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Nations Energy secures site for biomass projects

Aug. 10, 2011, Kamloops, BC – Nations Energy Corporation has entered into a 15-year lease agreement for use of facilities in Kamloops, British Columbia, for its biomass power project.


August 10, 2011
By Nations Energy

Aug. 10, 2011, Kamloops, BC – Nations
Energy Corporation, through its wholly owned subsidiary Cedarhurst Forestry
Products Inc., has entered into a 15-year lease agreement with Biosource Power
Ltd. concurrent to its purchase of the lands, buildings, and pellet
manufacturing facilities located at 10285 Dallas Road in Kamloops from Farm
Credit Canada. The purchase is expected to be completed by September 2011.

Under the agreement, Cedarhurst will lease
a portion of the property as the permanent site for its planned biomass power
project pursuant to Nations Energy's selection by BC Hydro under its
community-based biomass power program for Kamloops.

Both Biosource and Cedarhurst plan to
cooperate with respect to the use of the facilities, including potential
arrangements on fibre supply for pellet production, and distribution via shared
use of rail transport facilities. Dale Andrews, president of Nations Energy,
states, "We have been interested in this Kamloops site for some time and
we are pleased to have secured an appropriate arrangement for the development
of our initial project in the community of Kamloops."

Read also: Lease agreement reached for
Dallas woodwaste burner
, by Jason Hewlett | Kamloops The Daily News.

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