Investment of $1 billion - ITUM a partner in wind energy projects on its territory
UASHAT, QC, Aug. 28, 2012 /CNW Telbec/ - Innu Takuaikan Uashat Mak Mani-Utenam (ITUM) is pleased to announce that it will partner with three businesses in order to participate on the development, the construction and operation of wind energy projects on the traditional territory of the Uashaunnuat people. The total estimated capacity of the projects is 250 MW.
The projects, which represent a potential investment of more than $1 billion, will enable the creation of approximately 300 jobs during the construction phase and 30 jobs once the facilities are operational, in addition to generating royalties. "We view these projects as a very important development tool for our community," stated Chief Georges-Ernest Grégoire. "We are constantly seeking ways of diversifying our economy, and we believe that the members of the community will draw maximum benefit from these sustainable development projects. Windmills produce renewable energy, which responds to our community's concerns about the environment".
Significant royalties will also be paid annually to the Uashat Mak Mani-Utenam community over the entire lifespan of the proposed projects. The partners that ITUM has joined are Northland Power Inc., Guodian United Power Technology Corporation Limited (UPC), and Transelec Common Inc (TCI).
"Northland Power is pleased to partner with ITUM," said John Brace, President and CEO, Northland Power. "This partnership represents an important addition to Northland's growing portfolio of renewable energy developments. Working together will enable us to provide clean and green wind energy to the Quebec power grid while supporting ITUM's commitment to ensuring the long-term economic and environmental sustainability of its community."
Other economic development projects for ITUM
The economic gains of the new ITUM partnership agreement are in addition to the some $5 million resulting from the signing of a number of contracts with other partners. The value of each contract is valued at between $2 million and $80 million, with many Innu businesses benefiting. To date, approximately 40 jobs have also been created for members of the community, in addition to the building of new infrastructures and the support of various initiatives in Uashat Mak Mani-Utenam.
About Northland Power Inc.
Northland Power Inc. owns or has a net economic interest in 1,005 MW of operating generating capacity, and 320 MW of generating capacity in construction. Northland is also actively developing 280 MW of wind, solar and run-of-river hydro projects already awarded PPAs, and approximately 2,200 MW of additional power generation opportunities. Northland's assets comprise facilities that produce electricity from "clean" natural gas and "green" renewable sources such as wind, solar and biomass. Electricity generation and capacity is primarily sold under long-term contracts with creditworthy customers. Northland's operating thermal power assets are located in the provinces of Ontario and Saskatchewan.
About Guodian United Power Technology Company Limited (UPC)
Guodian United Power Technology Company Limited (United Power) is a high-tech company focusing on green energy industry and a leading supplier of total solutions of wind turbine generator systems. United Power is wholly owned by China Guodian Corporation Group, one of the five largest state-owned power generation groups in China, with installations of over 4000 units of United Power wind turbines across China and oversea. United Power is committed in helping First Nation communities to adopt renewable technology to eliminate dependency on fossil fuel based power plant. To this effect, United Power is currently developing a wind farm with the Cree Community of Whapmagoostui. Also, because of the large expansion in the mining industry, the Innu territory is a priority for United Power as it is known to have a large density of fossil fuel power plant.
About Transelec Common Inc (TCI)
TCI Group is a Canadian company specializing in the construction, management and maintenance of network infrastructures, including, most notably, electrical, telephony, signage cable, wind turbine and street lighting networks. TCI Group is an amalgamation of integrated service companies that have joined forces to become the proud builders of today's energy and communication networks. The mission of TCI is to offer the best qualified work force and the most advanced equipment to successfully carry out all projects within full respect for its clients' budgets and timetables.
SOURCE: INNU TAKUAIKAN UASHAT MAK MANI-UTENAM (ITUM)For further information:
Uashat Mak Mani-Utenam
Telephone: 418-523-3352, ext. 231
Cell: 418 580-0040