Tahltan, AltaGas ink benefits deals
THE TAHLTAN Central Council and AltaGas have now signed two impact benefit agreements tied to two planned run of river projects on Tahltan traditional territory.
The signings, which took place Sept. 28, followed voter acceptance by the Tahltan of the agreements providing cash, profit sharing, equity arrangements, scholarships, business opportunities and employment for the McLymont Creek and Volcano Creek projects.
Together with the Forrest Kerr run of river project, already under construction, the AltaGas expenditure is to be approximately $1 billion.
The Alberta-based company has a 60-year sales deal with BC Hydro and the power it generates will be fed into the crown corporation's grid at a substation at Bob Quinn which is to be built as part of the Northwest Transmission Line project.
“The IBAs establish a formal partnership between AltaGas and the Tahltan Nation and enable us to continue to develop our projects in collaboration with the Tahltan community,” said David Cornhill, Chairman and Chief Executive Officer of AltaGas.
"We look forward to strengthening our relationship with AltaGas as we work together in the development of these projects, ensuring our nation, people and businesses receive financial benefits, including revenue sharing, jobs and contract opportunities, while also minimizing the environmental impacts and protecting our culture and way of life,” said Annita McPhee, President of the Tahltan Central Council.
Terms of the agreements were not released.
AltaGas expects Forrest Kerr to be completed in 2014 followed by McLymont Creek in 2015 and Volcano Creek in 2016. Total production is to be in the 270 megawatt range.
Once completed, the projects will provide enough electricity for approximately 95,000 homes in British Columbia and will offset more than 780,000 tonnes of greenhouse gas equivalents annually, says AltaGas.