The Homalco First Nation and Alterra Power will enter into an impact benefit agreement (IBA) to develop hydroelectric facilities within Homalco's traditional territory in Canada.
The IBA establishes a framework under which the Homalco First Nation and Alterra have agreed to collaborate to advance possible hydroelectric opportunities.
The deal also covers the transmission infrastructure that brings the hydro facilities into commercial operations within the traditional territory of the Homalco Nation.
The IBA includes revenue sharing provisions; employment, training and contracting opportunities; environmental considerations and the protection of cultural and heritage resources.
Alterra is a renewable power producer and developer, that operates six geothermal, run of river hydro and wind plants in Iceland, Nevada and British Columbia with combined capacity of 571MW.