TimberWest and EDP Renewables Canada Partner on Large-Scale Wind Power
Projects on Vancouver Island and sign MOU with T'Sou-ke First Nation
VANCOUVER, Sept. 26, 2013 /CNW/ - TimberWest Forest Corp. ("TimberWest") and
EDP Renewables Canada Ltd. ("EDPR Canada") have entered into a partnership and
propose to develop, build, and operate large-scale wind projects on southern
Vancouver Island. TimberWest and EDPR Canada also announce that they have
signed an MOU with the T'Sou-ke First Nation ("T'Sou-ke") that envisions the
potential of partnerships with the T'Sou-ke and other First Nations on wind
The proposed projects present a unique opportunity to build power generation
capacity on Vancouver Island, which generates only a third of its energy
demand locally. At up to 300 megawatts of capacity, the projects would provide
approximately $600 to $750 million of potential investment and support
hundreds of jobs on Vancouver Island, including training for new skills and
services. To date, TimberWest and EDPR Canada have invested several million
dollars in developing these projects.
"These renewable energy projects would represent a significant investment on
Vancouver Island," said TimberWest President and CEO, Brian Frank. "We have a
tremendous opportunity here to develop wind energy on TimberWest's private
land near where that energy is needed."
TimberWest has a long history of sustainable land management and commitment to
Vancouver Island communities. "Wind projects on these lands would complement
the existing managed forest landscape that has a century of renewable forest
harvesting activity," concluded Frank.
Partnering with TimberWest is EDPR Canada — part of a leading global
renewable energy company that owns and operates over 8,000 megawatts of
projects around the world. "We are excited by the potential of these projects
in British Columbia," said Gabriel Alonso, CEO of EDP Renewables North America
LLC. He added that, "with the increasing efficiency of modern wind turbines,
these projects would be competitive with other large-scale power development
proposals in the province, including BC Hydro's Site C."
Gordon Planes, Chief of the T'Sou-ke First Nation whose traditional territory
lies within the proposed wind projects, said "We look forward to working with
TimberWest, EDPR Canada, and other First Nations to see that the wind projects
can be developed in a way that is respectful of First Nations people, and
their culture, aspirations and interests."
September 26, 2013
With the contraction of the traditional Coastal forest industry in British
Columbia over the last several decades, large-scale wind projects are an
opportunity to diversify the Vancouver Island economy with new investment,
jobs and training.
Vancouver Island currently imports nearly two-thirds of its electricity. These
proposed projects are close to demand centres on Vancouver Island and the
Lower Mainland, and are in close proximity to BC Hydro's 138 and 230 kV
transmission lines with available capacity. The wind energy generated would
complement the timing of electricity demand during the fall and winter months,
and reduce line losses associated with long-haul transmission.
In addition, the projects would represent a large investment in Vancouver
Island and benefit from experienced partners with the financial strength to
assure project success. An initial 300 MW's would mean approximately a $600
to $750 million investment and would support 350+ direct construction jobs,
1,000 indirect/induced jobs during construction and 40-50 permanent operations
These world-class, large-scale wind developments can compete with other future
supply options, including in BC Hydro's Site C, on both price and value.
Large-scale wind energy could provide lower rates and price certainty to
customers in the long-term compared to other alternatives.
The proposed projects would generate energy without greenhouse gas emissions,
supporting the BC Government's objective to create the cleanest LNG projects
on the globe. To be successful, these projects would rely on BC Hydro to
purchase the power, or deliver it directly to growing end use markets in the
natural resources sector such as mining and liquefied natural gas projects.
TimberWest and EDPR Canada are dedicated to making their partnership a model
for wind projects in British Columbia. The partnership has begun engaging
First Nations, local communities and stakeholders early, and will meet all
local, provincial and federal requirements.
Within the past five years, T'Sou-ke has become a leader in community-based
renewable energy. With their and other First Nations involvement in the
proposed projects, the partnership will leverage traditional knowledge of
lands and geography, and experience with renewable energy development, to make
these projects successful and to create new economic opportunities for First
Nations on Vancouver Island.
About TimberWest Forest Corp.
TimberWest is a leading timberlands company in British Columbia and the
largest private managed forest land owner in Western Canada with 325,400
hectares / 804,200 acres on Vancouver Island. TimberWest also owns renewable
Crown harvest rights to 700,000 m3 per year in coastal British Columbia.
TimberWest has a long tradition of working with communities on Vancouver
Island, including through its real estate business, Couverdon Real Estate.
TimberWest is pursuing investment opportunities, including wind energy
projects, which will diversify the economy and provide opportunities for local
employment. TimberWest is privately owned by two leading Canadian pension
fund investment managers, British Columbia Investment Management Corporation
and the Public Sector Pension Investment Board.
About EDP Renewables
EDP Renewables Canada Ltd. and its subsidiaries develop, construct, own and
operate wind farms throughout Canada with offices in Toronto and its first
wind farm is currently under construction in Ontario. EDPR Canada leverages
the vast knowledge and experience of its sister company, EDPR North America,
as its highly qualified team begins to develop, construct, own and operate
high quality wind farms across Canada.
EDPR Canada is owned by EDP Renováveis, S.A. ("EDPR"), a global leader in the
renewable energy sector that develops, constructs, owns and operates renewable
generation facilities. With a sound development pipeline, first class assets
and market-leading operating capacity, EDPR has grown extensively in recent
years to be the world's third largest owner of wind power projects by
capacity, with 8,150 megawatts currently in operation. The company's long-term
growth is driven by favorable renewable energy market conditions. EDPR is
committed to renewable energy as it becomes increasingly reliable and
competitive due to technological advancements that lead to greater
efficiencies. The company is continuously expanding renewable energy into new
markets of the world. EDPR is currently present in the United States, Spain,
Belgium, Brazil, Canada, France, Italy, Poland, Portugal, Romania, and the
United Kingdom. EDPR is listed on the Euronext Lisbon Stock Exchange (NYSE
SOURCE TimberWest Forest Corp.
Contacts: Adam Renz EDPR 713-265-0332
Sue Handel TimberWest 250-729-3744
Image with caption: "EDP Renewables' Wind Farm, New York c/o EDP Renewables
(CNW Group/TimberWest Forest Corp.)". Image available at:
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CO: TimberWest Forest Corp.
ST: British Columbia
-0- Sep/26/2013 13:00 GMT
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