Sprott Power Corp. has inked a term sheet with the Batchewana First Nation that would provide the aboriginal group with a 49% stake in the 25 MW Goulais Wind Farm located just north of Sault Ste Marie in Ontario.

Goulais will be built along the Mile Hill approximately two kilometers from the end of the current Prince Wind Farm operation in Ontario. Sprott Power has a 20-year Feed-in-Tariff contract with the Ontario Power Authority for the Goulais. Construction on the wind farm is expected to start this fall with commercial operation by next summer.

"The addition of the Goulais Wind Farm to the original reserve will provide enhanced opportunities for the First Nation through income-generation, employment and training opportunities as well as business opportunities for Batchewana companies who can provide construction services," said Chief Dean Sayers of the Batchewana First Nation.

Jeff Jenner, president and CEO of Sprott Power, added that once final agreements are in place, the company will have “a significant and influential local partner for the project while enhancing the value for our shareholders.”