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Toronto, Ontario, Jan. 20, 2025 (GLOBE NEWSWIRE) — At this time, Capstone Infrastructure Company (TSX: CSE.PR.A) (the “Company” or “Capstone”) is proud to announce the execution of three 30-year Electrical energy Buy Agreements with BC Hydro alongside Indigenous companions.
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The three wind initiatives – Brewster, Highland Valley, and Mount Mabel – had been chosen by BC Hydro of their current Name for Energy and could have a complete mixed capability of 537 MW. Collectively, the initiatives will generate roughly 1.4 million MWh of electrical energy yearly, sufficient to energy greater than 157,000 common British Colombian properties per yr.
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All initiatives are Indigenous led partnerships with a 51% fairness possession curiosity by Wei Wai Kum First Nation (Brewster Wind), Ashcroft Indian Band (Highland Valley Wind), and Decrease Nicola Indian Band (Mount Mabel Wind) respectively.
“We’re thrilled to have three initiatives chosen by BC Hydro’s current renewables procurement. Capstone prides itself on accountable and sustainable growth, building, and operation our initiatives, whereas delivering high quality jobs and important financial advantages for native communities and our Indigenous companions,” says David Eva, CEO of Capstone, “and we imagine our mission companions share this similar imaginative and prescient. We’re all trying ahead to enjoying a significant function in British Columbia’s clear vitality future.”
The chosen initiatives:
Brewster Wind Venture: This mission is a collaboration between Wei Wai Kum First Nation, situated roughly 50 km northwest of Campbell River on Vancouver Island. The wind vitality facility could have an nameplate capability of 197 MW.
“The Brewster Wind Venture is a milestone for the Wei Wai Kum Nation, embodying our imaginative and prescient for clear vitality and sustainable growth. It demonstrates the ability of partnerships between Indigenous communities and business to drive constructive change. This mission is extra than simply vitality manufacturing—it is a chance to create jobs, put money into our group, and construct financial resilience for generations to come back. It can assist financial development and prosperity throughout the higher Vancouver Island area, addressing the important want for brand new energy to unlock future initiatives and investments.”
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- Chief Christopher Roberts, Wei Wai Kum First Nation
Highland Valley Wind Venture: The Venture is situated roughly 18 km west of the District Municipality of Logan Lake within the Thompson-Nicola Regional District within the Southern Inside. The 197 MW wind vitality mission is a collaboration between Ashcroft Indian Band and Capstone.
“We welcome the chance offered by BC Hydro’s choice of the Highland Valley Wind Venture and look ahead to working along with our companion, Capstone. This mission is a major development in financial reconciliation and marks a brand new period in Indigenous possession and management of our sources. We imagine that working collectively is the perfect course for all of us.”
- Chief Greg Blain, Ashcroft Indian Band
Mount Mabel Wind Venture: Capstone, in partnership with the Decrease Nicola Indian Band, this 143 MW wind vitality mission is situated within the Thompson-Nicola Regional District within the Southern Inside, roughly 25 km northeast of Merritt.
“We’re excited in regards to the Mount Mabel Wind Venture transferring ahead – it marks one other necessary step for LNIB’s continued management and funding within the vitality sector and elevated financial self-sufficiency. We look ahead to constructing a robust partnership and world-class renewable vitality facility with Capstone, in addition to the financial advantages this mission will present for our Nation and the broader group.”
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- Chief Stuart Jackson, Decrease Nicola Indian Band (LNIB)
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About Capstone Infrastructure Company
Capstone is producing our low-carbon future, driving the vitality transition ahead by means of artistic considering, sturdy partnerships, and a dedication to high quality and integrity in how we do enterprise. A developer, proprietor, and operator of unpolluted and renewable vitality initiatives throughout North America, Capstone’s portfolio consists of roughly 885 MW gross put in capability throughout 35 services, together with wind, photo voltaic, hydro, biomass, and pure gasoline energy crops. Please go to www.capstoneinfrastructure.com for extra info.
About Wei Wai Kum First Nation
The Wei Wai Kum First Nation, situated in Campbell River, British Columbia, is a member of the Laich-Kwil-Tach group inside the Kwakwaka’wakw peoples. With a wealthy cultural heritage and a dedication to sustainable growth, the Nation operates varied enterprises contributing to the expansion of their group and the economic system of the Campbell River Area. Wei Wai Kum presents a various portfolio of companies together with the Discovery Harbour Marina, Laich-Kwil-Tach Environmental Assessments, and Discovery Harbour Purchasing Centre. Their imaginative and prescient emphasizes that the “Nation is a wholesome, vibrant group that enriches the lives of every citizen economically, intellectually, bodily, socially and spiritually, strengthening the knowledge, and cultural values for future generations.”
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About Ashcroft Indian Band
Ashcroft Indian Band is a Nlaka’pamux First Nations authorities and a member band of the Citxw Nlaka’pamux Meeting. The individuals of the Ashcroft Indian Band have lived within the space, alongside the shores of the Thompson River within the British Columbia Inside for greater than 6000 years. The Ashcroft Indian Band fishes in the identical river, and stays agency on the identical land Nlaka’pamux have occupied for generations and generations. Ashcroft Indian Band believes in a robust, wholesome group the place individuals and conventional values are revered. We’re happy with our lengthy historical past as a First Nations Individuals, however we additionally imagine in progress. We’ve proven that tough work, good management, and an entrepreneurial spirit can enhance the lives of the members of the Ashcroft Indian Band.
In regards to the Decrease Nicola Indian Band (LNIB)
The Decrease Nicola Indian Band is situated close to Merritt, B.C. and is a part of the Nlaka’pamux Nation. With over 1,500 members LNIB is likely one of the largest Nations within the Southern Inside. LNIB has a protracted historical past of mixing financial growth with stewardship of our conventional lands and sources and safety of our tradition, language and conventional data. By means of its enterprise arm, LNIB has been an innovator in financial reconciliation and growth and has constructed a portfolio of enterprise ventures which give alternatives for our members, and which sustainably develop the pure sources situated in our conventional territory.
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Discover to Readers
Sure of the statements contained inside this doc are forward-looking and mirror administration’s expectations relating to the long run development, outcomes of operations, efficiency and enterprise of Capstone Infrastructure Company (‘Capstone’ or the ‘Company’) primarily based on info at the moment obtainable to the Company. Ahead-looking statements are offered for the aim of presenting details about administration’s present expectations and plans referring to the long run and readers are cautioned that such statements will not be applicable for different functions. These statements use forward-looking phrases, comparable to “anticipate”, “proceed”, “might”, “anticipate”, “might”, “will”, “intend”, “estimate”, “plan”, “imagine” or different related phrases. These statements are topic to recognized and unknown dangers and uncertainties that will trigger precise outcomes or occasions to vary materially from these expressed or implied by such statements and, accordingly, shouldn’t be learn as ensures of future efficiency or outcomes. The forward-looking statements inside this doc are primarily based on info at the moment obtainable and what the Company at the moment believes are affordable assumptions.
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The forward-looking statements inside this doc mirror present expectations of the Company as on the date of this doc and communicate solely as on the date of this doc. Besides as could also be required by relevant regulation, the Company doesn’t undertake any obligation to publicly replace or revise any forward-looking statements.
This doc shouldn’t be a proposal or invitation for the subscription of or a advice of securities. It doesn’t keep in mind the funding aims. Monetary state of affairs and specific wants of any traders. Earlier than investing within the Company, an investor or potential investor ought to contemplate whether or not such funding is acceptable to their specific funding wants, aims and monetary circumstances and seek the advice of an funding advisor if crucial
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