SAIK'UZ, BC, April 17, 2015 /CNW/ - Innergex Renewable Energy Inc. ("Innergex" or the "Corporation") and the Saik'uz First Nation ("Saik'uz") are pleased to announce the signing of an agreement to jointly develop a prospective wind energy project at Nulki Hills near Vanderhoof, British Columbia.
Innergex and Saik'uz First Nation have agreed on commercial terms for a 50-50 partnership to develop the proposed Nulki Hills prospective wind project, representing up to 210 MW of clean renewable power. The project is currently undergoing a BC Environmental Assessment. The partners have agreed to work together to obtain an Environmental Assessment Certificate from the province and an electricity purchase agreement from BC Hydro for the project.
In December 2013, Saik'uz and Innergex signed a Letter of Intent and a Traditional Knowledge Protocol Agreement, through which the partners highlighted their commitment to meaningful consultation during all stages of project development and to establish and determine the terms for a long-term cooperative and mutually respectful relationship throughout the life cycle of the project. At that time, the parties agreed to a process to gather, document and preserve Saik'uz traditional knowledge and to address the ownership, protection and integration of traditional knowledge in the development of the project.
"We are very enthusiastic about signing the term sheet for a 50-50 partnership with the Saik'uz First Nation," said Richard Blanchet, Senior Vice President – Development, Western Canada and Latin America at Innergex. "Our partnership reflects the commitment between Innergex and Saik'uz to work together, respectfully and collaboratively. This agreement solidifies our plans to bring sustainable economic development opportunities to Saik'uz and the District of Vanderhoof," added Mr. Blanchet.
"We have had a very positive relationship with Innergex to date and we are extremely pleased to enter into a partnership with them," said Saik'uz First Nations Chief Stanley Thomas. "We are excited about the new opportunities the Nulki Hills project will bring for our community, and we are confident that they will take place in a manner that is respectful of the environment, our culture and our constitutional aboriginal rights, titles and interest."
About the Saik'uz First Nation
Saik'uz First Nation is a Carrier community near Nulki Lake, south of Vanderhoof – the geographical center of the province. Saik'uz. Pronounced 'sigh-cuz', the nation has over 1,000 members, many of whom are young and employable. Saik'uz supports environmentally friendly and sustainable projects and has visited two existing wind projects in Northern British Columbia and one in Quebec. The tours to wind projects were instrumental for Saik'uz to understand the scope and nature of the proposed project.
About Innergex Renewable Energy Inc.
Innergex Renewable Energy Inc. is a leading Canadian independent renewable power producer. Active since 1990, the Company develops, owns and operates run-of-river hydroelectric facilities, wind farms and solar photovoltaic farms and carries out its operations in Quebec, Ontario and British Columbia and in Idaho, USA. Its portfolio of assets currently consists of: (i) interests in 33 operating facilities with an aggregate net installed capacity of 687 MW (gross 1,194 MW), including 26 hydroelectric operating facilities, six wind farms, and one solar photovoltaic farm; (ii) interests in five projects under development or under construction with an aggregate net installed capacity of 208 MW (gross 319 MW), for which power purchase agreements have been secured; and (iii) prospective projects with an aggregate net capacity totaling 3,190 MW (gross 3,330 MW). Innergex Renewable Energy Inc. is rated BBB- by S&P. Its shares are listed on the Toronto Stock Exchange under the symbol "INE".
SOURCE Innergex Renewable Energy Inc.
For further information: please contact: Bas Brusche, Director - Development, Partnerships and Community Relations, Innergex Renewable Energy Inc., 604 633-9990, ext. 298, [email protected]; Jackie Thomas, Land and Resources Coordinator Saik'uz First Nation, 250 567-9293, ext. 220, [email protected]; www.innergex.com