News
Apr 27, 2009CanGEA Corporate Member News: “SGP Signs MOU with B.C. First Nation”
News from CanGEA corporate member Sierra Geothermal Power Corporation:
Sierra Geothermal Power Corp. [TSX-V: SRA] (“SGP”) today announced the signing of a memorandum of understanding (“MOU”) on April 17, 2009 with the Da’naxda’xw/Awaetlala Nation to develop geothermal power projects on their traditional lands, covering approximately 800,000 hectares (2 million acres) in the Knight Inlet area of British Columbia, Canada. Under the terms of the MOU, the Da’naxda’xw/Awaetlala Nation has granted SGP the exclusive right to develop geothermal resources within their territory for a ten year period. The MOU may be replaced by a definitive long-term agreement at SGP’s election. The Da’naxda’xw/Awaetlala Nation may benefit from SGP’s activities through the provision of, among other things, employment opportunities through construction and operation of any generation facilities, and financial support of the Da’naxda’xw/Awaetlala Nation’s educational and lodge resort development initiatives by way of a revenue sharing arrangement.
For more information: Click here.
