The IBA sets out the terms by which the permitting and ultimate build out of hydroelectric facilities can proceed within the traditional territory. The agreement also covers the transmission infrastructure that would be required to bring the hydro facilities into commercial operations within the traditional territory of the Homalco Nation. The specific terms of the IBA remain confidential, however the agreement includes revenue sharing provisions; employment, training and contracting opportunities; environmental considerations and the protection of cultural and heritage resources.
"This agreement between the Homalco First Nation and Alterra Power represents a significant milestone for the Homalco First Nation,” said Homalco Chief Richard Harry. “Quality green energy developments, on our traditional lands, achieved with a partner that is respectful of our land, our culture and our people. This represents a real economic opportunity for a better tomorrow for all."
"We are very grateful to the Homalco First Nation for their support of hydroelectric projects in their traditional territory,” added Donald McInnes, Executive Vice Chairman of Alterra Power. “We look forward to working together on developing environmentally-responsible projects that will benefit the Homalco First Nation and all British Columbians".
