KELOWNA – Innergex Renewable Energy Inc and Westbank First Nation have signed a 30-year electricity purchase agreement with BC Hydro for electricity generated by the K2 Wind Project located in the Pennask Mountain area.
“Westbank First Nation is proud to have been awarded an Electricity Purchase Agreement alongside Innergex for the proposed K2 Wind Energy Project,” said Westbank First Nation Chief Robert Louie. “This project demonstrates the power of collaboration and our dedication to leaving a cleaner, healthier environment for future generations. We look forward to engaging with our Membership as we move toward finalizing this transformative opportunity.”
The K2 Wind Project is being developed in close collaboration with the respective syilx/Okanagan Nations in the area. Guided by collaborative land-use planning, the project integrates cultural preservation, environmental stewardship, and economic empowerment for Indigenous communities in the Pennask Mountain area. The project is expected to create approximately 130 job opportunities locally during development, construction, and operation phases.
The long-term electricity purchase agreement with BC Hydro is structured as a 30-year take-or-pay contract, indexed to a predefined percentage of the Consumer Price Index (“CPI”) ensuring financial stability and protection against inflation. The project is subject to the execution of contracts with suppliers, and to the successful completion of permit application processes and regulatory requirements.
Innergex Renewable Energy has been in operation over 30 years and conducts operations in Canada, the United States, France and Chile and manages a large portfolio of high-quality assets. Three of their wind projects, co-developed with Indigenous partners, were selected in BC Hydro’s most recent RFP for new renewable energy generation. The two other projects were Nithi Mountain Wind Project and Stewart Creek Wind Project.
“We are proud that all three of our projects selected in BC Hydro’s RFP are built on strong partnerships with Indigenous communities, and we are looking forward to collaborating closely with BC Hydro and our partners to bring these projects to fruition,” said Michel Letellier, President and Chief Executive Officer of Innergex.
The K2 Wind Project, scheduled for commercial operations in 2031, is projected to power 50,000 homes, with an estimated annual generation of 500 GWh.
Business Examiner Staff