TimberWest Forest Corp. (“TimberWest”) and EDP Renewables Canada Ltd. (“EDPR Canada”) have entered into a partnership and propose to develop, build, and operate large-scale wind projects on southern Vancouver Island.
TimberWest and EDPR Canada also announce that they have signed an MOU with the T’Sou-ke First Nation (“T’Sou-ke”) that envisions the potential of partnerships with the T’Sou-ke and other First Nations on wind projects.
The proposed projects present a unique opportunity to build power generation capacity on Vancouver Island, which generates only a third of its energy demand locally. At up to 300 megawatts of capacity, the projects would provide approximately $600 to $750 million of potential investment and support hundreds of jobs on Vancouver Island, including training for new skills and services. To date, TimberWest and EDPR Canada have invested several million dollars in developing these projects.
“These renewable energy projects would represent a significant investment on Vancouver Island,” said TimberWest President and CEO, Brian Frank. “We have a tremendous opportunity here to develop wind energy on TimberWest’s private land near where that energy is needed.”
TimberWest has a long history of sustainable land management and commitment to Vancouver Island communities. “Wind projects on these lands would complement the existing managed forest landscape that has a century of renewable forest harvesting activity,” concluded Frank.
Partnering with TimberWest is EDPR Canada