Feb 15 2010
Plutonic Power Corp. announced that it has signed the second Impact Benefit Agreement (IBA) with the shishalh Nation in British Columbia. The long term deal has been inked to facilitate development of transmission in the shishalh traditional territory to enable new renewable energy projects. Both the organizations believe this is the first in the history of British Columbia that two deals have been signed consecutively by a renewable energy project developer and a First Nation.
By entering into the agreement, both the parties have agreed for a transmission infrastructure to be built within the shishalh traditional territory to back the sustainable energy projects. The IBA signed by shishalh Nation and Plutonic Power includes environmental considerations, revenue sharing provisions, cultural/heritage resources protection, and opportunities for job and training.
Garry Feschuk, shishalh Nation Chief, said the green energy developments that are achieved in collaboration with First Nations represent a better future for all. He added that the shishalh Nation would continue to work towards creating quality IPP opportunities in the territory. Executive Vice President of Plutonic Power, Rupert Legge stated that the company is proud to enter the deal with the First Nation and it is looking forward for future partnership.
Currently, shishalh Nation and Plutonic Power are parties to an already existing IBA that has been signed for the development of 196MW East Toba River and Montrose Creek Hydroelectric Project.