The Squamish Nation and Run of River Power (TSXV: ROR) have signed a long-term impact benefit agreement (IBA) on the company’s proposed 25-megawatt Skookum Power Project.
The terms of the IBA remain confidential; however, the agreement provides revenue sharing and job opportunities for the Squamish Nation, as well as protection of their cultural and heritage resources.
Chief Ian Campbell said Skookum Creek and the Skookum Power Project are in the traditional territory of the Squamish Nation.
“We have worked closely with Run of River Power, ensuring our concerns around cultural and traditional uses of the area are considered.”
Run of River formally signed a 40-year electricity purchase agreement for the Skookum Power Project with BC Hydro in May 2010.
Construction is scheduled to begin in 2012’s second quarter. The project is scheduled to be operating commercially in January 2014.
When completed, the Skookum Power Project will be Run of River’s second hydroelectric power plant in B.C.
Jennifer Harrison
@JHarrisonBIV