Innergex and Indigenous Partners Win Selection of Three Wind Projects in BC Hydro’s Latest Call for Tenders
December 10, 2024
- Three wind projects developed jointly with indigenous partners representing a combined gross power of 560 MW.
- Strengthens Innergex’s position as a leading independent electricity producer in British Columbia.
- These projects underscore Innergex’s commitment to advancing the growth of renewable energy in British Columbia, while supporting local and Indigenous communities.
- Innergex recognizes and appreciates the trust that its Indigenous partners have placed in it by choosing it as a partner.
- Continuous cash flow for 30 years, indexed to inflation.
Innergex Renewable Energy Inc. is pleased to announce that three of its wind projects, co-developed with Indigenous partners, have been selected in BC Hydro’s most recent call for tenders for the production of new renewable energy.
Representing a combined 560 MW of power, this achievement highlights Innergex’s leadership in Canada and British Columbia, as well as its expertise in developing renewable energy projects in partnership with Indigenous communities that provide significant economic and environmental benefits to local communities.
“We are proud that our three projects selected through the BC Hydro RFP are built on strong partnerships with Indigenous communities, and we look forward to working closely with BC Hydro and our partners to bring these projects to fruition,” said Michel Letellier, President and CEO of Innergex. “Together with our partners, we aim to create projects that not only produce clean energy, but also provide meaningful and sustainable benefits to Indigenous communities. This milestone underscores the strength of our development pipeline, our commitment to competitive renewable energy projects, and our focus on advancing British Columbia’s energy transition. Expanding our Canadian wind portfolio with these projects adds additional diversification benefits and demonstrates our commitment to disciplined growth and value creation for all stakeholders.”
Selected Projects:
- K2 Wind Project: The 160 MW K2 Wind Project is located in the central interior of British Columbia, 33 km west of Peachland/Westbank. The project is a collaborative venture between Westbank First Nation (51% ownership) and Innergex (49%).
- Nithi Mountain Wind Project: Located in the Bulkley-Nechako region of northern British Columbia, the 200 MW Nithi Mountain Wind Project is being developed in partnership with the Stellat’en First Nation (51% owner) and Innergex (49%).
- Stewart Creek Wind Project: In partnership with the West Moberly First Nations (51% owner), this 200 MW wind project in the Peace Region of northeastern British Columbia is being developed jointly with Innergex (49%).
Commercial commissioning is anticipated between 2030-2031 and the power purchase agreements to be entered into with BC Hydro (S&P Credit Rating: AA-) are expected to be structured as 30-year mandatory energy take-up contracts, indexed to a pre-defined percentage of the Consumer Price Index (“CPI”).
Projects are subject to execution of contracts with BC Hydro and suppliers, and will need to successfully complete permit application processes and meet regulatory requirements.
