Finavera Wind Energy (TSX-V:FVR) has struck another partnership deal with First Nations for a major wind farm project near Tumbler Ridge.
The Vancouver-based alternative energy generator announced Tuesday a memorandum of understanding with the McLeod Lake Indian Band, which would see Finavera and the First Nation “share the benefits” of four wind projects in the northeast part of the province.
“The McLeod Lake Indian Band is happy to support Finavera and the responsible energy they will be producing,” commented Chief Derrick Orr. “We look forward to the success of this project and to a long and mutually beneficial relationship with Finavera.
The proposed wind projects would produce some 300 megawatts of renewable electricity (enough to power 7,500 homes) once built.
The agreement would see the McLeod Lake band receive training, jobs and financial participation in the projects in return for their support.
“Chief Derrick Orr has a strong vision for his community and we are thankful for their support of Finavera and these projects,” said Finavera CEO Jason Bak.
Last year, the company signed a similar agreement with the Halfway River First Nation, but remains in discussions with the West Moberly, Doig River and Saulteau First Nations.
At press time, Finavera’s shares were unchanged at $0.55.
Joel McKay
Twitter:jmckaybiv