FOR IMMEDIATE RELEASE
October 1, 2015, Gitlaxtamiks, BC – The Nisga’a Lisims Government, on behalf of the Nisga’a Nation, and WindRiver Power Corporation are pleased to announce that they have entered into a comprehensive Benefits Agreement with respect to WindRiver’s planned 50 megawatt hydroelectric project at Kinskuch Lake, British Columbia.
“The signing of the Benefits Agreement with the Nisga’a Nation is a critical step”, commented Kipp Horton, President & CEO of WindRiver. “The agreement’s term is for the commercial life of the project and so provides a solid and lasting foundation. We have appreciated working with the Nisga’a Nation to achieve this milestone. Looking forward, we will continue to work closely with the Nisga’a Nation with the shared objective of completing the Kinskuch project, a project which we anticipate will be an important building block in an expanded power grid in northwest B.C.”
“From our perspective,” commented Mitchell Stevens, President of the Nisga’a Lisims Government, “WindRiver’s efforts are deserving of our full support and co-operation, not only on the basis of WindRiver’s open and straightforward consultation over the last several years but also on the basis of the merits of the Kinskuch project itself and on the role it will play in supplying firm, reliable and clean electricity to the region.This project is consistent with our vision of sustainable prosperity and self-reliance.”
The Benefits Agreement includes commitments of the Nisga’a Nation to:
- support the project through the regulatory and permitting processes;
- allow access across Nisga’a Lands for the project’s transmission interconnection facilities; and
- allow the flooding of a portion of a Nisga’a Nation fee-simple property on the perimeter of Kinskuch Lake for the project’s reservoir.
The Benefits Agreement includes commitments of WindRiver to:
- make payments to the Nisga’a Nation tied to specified project milestones;
- make annual royalty payments to the Nisga’a Nation based on the proceeds of the project’s output;
- support employment and contract opportunities for citizens of the Nisga’a Nation and companies; and
- provide ownership interests in the project to the Nisga’a Nation through assured initial and future interests and purchase options.
“WindRiver’s goal,”said Horton,“of generating predictable and attractive returns through its interests in long-life renewable energy assets will be substantially supported by the addition of the 50 megawatt Kinskuch project to the company’s stable of operating facilities, development projects and prospects.”
About the Nisga’a Nation
The Nisga’a Nation is located in the northwest of British Columbia and comprises approximately 7,000 Nisga’a citizens. The Nisga’a Nation exercises the right of self-government as set out in the Nisga’a Treaty which recognizes the Nisga’a Nation’s ownership of 2,000 sq km of Nisga’a Lands, and constitutionally protected rights and interests throughout the 26,000 sq km Nass Area.
About WindRiver Power Corporation
WindRiver Power Corporation is a developer, owner and operator of renewable energy projects,currently focused on hydroelectric and wind power facilities in western Canada. WindRiver has offices in Calgary, Alberta and Abbotsford, British Columbia.
For inquiries contact:
Nisga’s Lisims Government
Edward Allen at 250-633-3000 or email@example.com
WindRiver Power Corporation
Kipp Horton, President & CEO at (403) 233-2259 or firstname.lastname@example.org