WIND FOR CANADIAN FIRST NATION

24 August 2011 (Windpower Monthly)

"Finavera Renewable Energy has signed a memorandum of understanding (MOU) with the McLeod Lake Indian Band in British Columbia for the development of four wind projects...This is Finavera’s second [MOU]…Last year, it signed an MOU with Halfway River First Nation…

"…[Five First Nation Indian groups [are] required to support the wind farms.] The projects – Tumbler Ridge (45MW), Wildmare (77MW), Meikle (117MW) and Bullmoose (60MW) — will have a total capacity of [301] MW."

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"According to Finavera, the First Nation groups will have a financial stake in the projects. Other benefits will include job opportunities and training…Other groups to be brought into the project are West Moberly First Nation, Doig River First Nation and Saulteau First Nations. Negotiations are ongoing.

"In May last year, Finavera has secured up to C$7.5 million from GE Energy to further the development of four wind-energy projects that also won power-purchase contracts in the BC Hydro call…The loan will tide Finavera through the final development stages of the projects to financial close. It will be paid back…at the close of each project. GE would also be the preferred wind-turbine supplier…"