BioNorth Energy completes acquisition of Fort St. James Green Energy Project

3 GERMAN minute read
02 Dezember 2021

On December 2, 2021, BioNorth Energy Limited Partnership ("BioNorth Energy") announced it had completed its acquisition of the Fort St. James Green Energy Project located in Northern British Columbia. The new Indigenous-Industry partnership will build a sustainable clean energy operation, creating local jobs, supporting regional economic development, and meeting provincial demand for renewable power.

The 40-megawatt biomass power generation facility, located in Fort St. James, began commercial operations in late 2017 under a 30-year electricity purchase agreement (EPA) with BC Hydro. The facility ceased operations in June 2021 with over 26 years remaining on the EPA. BioNorth Energy announced plans to take over the facility earlier this year.

BioNorth Energy plans to have the facility back online, generating clean power for British Columbians, before the end of the year. The company continues to work with the Province on the transfer of a 20-year forestry license to supply fibre to the facility, hoping to have this outstanding component of the acquisition completed by early 2022. Extensive recommissioning work at the facility will take place next spring.

BioNorth Energy is a joint-venture partnership between the Arrow Group of Companies ("Arrow"), the Nak'azdli Development Corporation ("NDC", the economic development arm of Nak'azdli Whut'en), and low-carbon infrastructure developer, Nexus Program Management Group, LLC ("Nexus PMG").

Arrow, a privately-owned company, is a leader in transportation, logistics, environmental and forest residual management. NDC represents the membership of Nak'azdli Whut'en in its economic and business interests. This includes taking a proactive role in land stewardship and resource management and identifying ways for Nak'azdli to grow and improve the well-being of community members. Nexus PMG focuses on delivering world-class services to investors and developers on projects that reduce carbon intensity and enhance resource efficiency.

Gowling WLG was counsel to Nexus PMG with respect to this acquisition with a team led by Tara Amiri (corporate/M&A) and that included Brent Kerr (tax), Michael Schalke (employment) and Braden Sheps (banking).


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