Sunvault Energy pursuing 10 MW AD project with recent MOU
Sunvault Energy Inc., a development stage company focused on providing energy generation and energy storage solutions to the solar and electricity industries, is expanding to alternative energy. Over the past few years Sunvault Energy has worked to diversify by acquiring companies like Aboriginal Power Corp., their exclusive incubation company. APC created a partnership with Northern Lights Energy and Power where they sell electricity, as well as engineer, design, procure, construct, operate and maintain conventional and alternative energy projects. APC has now signed a memorandum of understanding with the Halalt First Nation that asserts rights, title and interest to APC for certain Reserve, Crown and Traditional Territory Lands located in the Province of British Columbia (RCT Lands) to explore energy project opportunities.
The companies are currently looking at pursuing the development of a commercial 10 MW anaerobic biomass power project to be located on Vancouver Island. Under the agreement APC, NLAPC and HFN acknowledge a power project on HFN’s RCT Lands will be advantageous for all involved. NLAPC brings experience and management support and services to the table and HFN provides its land along with political and legal support in securing a long term power purchase agreement.
“We are very pleased with our decision to look at power utility and alternative energy for our community,” said Chief James Thomas in a statement.
Sunvault will continue to seek out additional projects in the space as it meets their growth plans. “We continue our focus on infrastructure projects within an expansive First Nations marketplace,” said Gary Monaghan, president and CEO of Sunvault Energy. “Our incubation company partner, APC, continues its mandate to identify and secure long term infrastructure projects for Sunvault Energy and its shareholders.”