Finavera signs MOU with McLeod Lake Indian Band in Peace River Region of British Columbia

The MOU covers the construction and operation of 4 wind projects totalling 300 MW on First Nations land. In the MOU the McLeod Lake Indian Band has provided its acknowledgement and acceptance for the 45 MW Tumbler Ridge Wind Energy Project, 77 MW Wildmare Wind Energy Project, 117 Meikle Wind Energy Project and the 60 MW Bullmoose Wind Energy Project. The MOU establishes the processes and sharing of benefits between the developer and the McLeod Lake Indian Band. In return for their consent and support of Finavera’s wind projects in the Peace River region of British Columbia, the McLeod Lake Indian Band will benefit through training, employment, business opportunities and financial participation in the projects. The MOU Finavera has signed with the McLeod Lake Indian Band is the second of five such agreements that Finavera hopes to conclude in the Peace River Region. The Company signed an MOU with Halfway River First Nation in 2010 and is presently in discussions with three other First Nations (West Moberly First Nation, Doig River First Nation and Saulteau First Nations).