Finavera signs MoU for four wind farm projects in British Columbia

Finavera Wind Energy Inc. has reached an agreement in principle to terms on a memorandum of understanding, or MoU, with the McLeod Lake Indian Band for the development of the company’s four wind power projects in the Peace Region of British Columbia.

The MoU marks the beginning of a partnership between McLeod Lake Indian Band and Finavera that will see benefits flow to both parties through the construction and operation of four wind turbines projects that will produce 300 megawatts of clean, renewable electricity. The MOU will be celebrated at an official signing ceremony in the McLeod Lake Indian Band community later this month, the company declared.

McLeod Lake Indian Band Chief Derrick Orr said, "The McLeod Lake Indian Band is happy to support Finavera and the responsible energy they will be producing. We look forward to the success of this project and to a long and mutually beneficial relationship with Finavera."

Finavera Wind Energy CEO Jason Bak said, "We are extremely proud to enter into this partnership with the McLeod Lake Indian Band on the development of our wind projects in British Columbia. Chief Derrick Orr has a strong vision for his community and we are thankful for their support of Finavera and these projects. Together, we can provide opportunities and build a legacy for future generations."

The MOU is a mechanism through which the McLeod Lake Indian Band has provided its acknowledgement and acceptance for the Tumbler Ridge, Wildmare, Meikle, and Bullmoose Wind Projects. The MOU establishes the processes and sharing of benefits that will ensure an ongoing positive relationship with the McLeod Lake Indian Band.

In return for their consent and support of Finavera’s Wind Projects, the McLeod Lake Indian Band will benefit through training, employment, business opportunities and financial participation in the projects. Finavera commits to providing clean, renewable energy that brings benefits to First Nations and all British Columbians in a manner that respects Aboriginal and Treaty rights and minimizes environmental impacts. The four wind projects that are covered by the MOU are: 45 MW Tumbler Ridge Wind Energy Project, 77 MW Wildmare Wind Energy Project, 117 Meikle Wind Energy Project, and the 60 MW Bullmoose Wind Energy Project.