First Nations, Metis join Enbridge on 200-MW wind project in Canada

Canadian energy company Enbridge Inc (TSE:ENB) has set up a partnership with a consortium of First Nation communities and Metis people in Canada to develop a 200-MW wind farm project in the province of Saskatchewan.

The project, known as Seven Stars Energy, will be developed, built and operated by a wholly-owned subsidiary of Enbridge. First Nations and Metis communities will have an opportunity to acquire equity ownership of at least 30% in the development, Enbridge said in an announcement on Monday.

Cowessess First Nation, George Gordon First Nation, Kahkewistahaw First Nation, Pasqua First Nation, White Bear First Nations and Metis Nation-Saskatchewan will manage their investment in the Seven Stars Energy project through their newly-established consortium called Six Nations Energy Development LP. This entity’s financial participation will be supported in part by loan guarantees of up to CAD 100 million (USD 73.1m/EUR 68.1m) from the Saskatchewan Indigenous Investment Finance Corporation (SIIFC).

Enbridge said that it is working to secure a long-term power purchase agreement (PPA) with Saskatchewan electric utility SaskPower to support final investment decisions, which are expected in 2025.

The Seven Stars Energy project is subject to finalising commercial agreements, securing the necessary environmental and regulatory approvals, and meeting investment criteria. The hope is to have the wind farm up and running in 2027.

(CAD 1.0 = USD 0.731/EUR 0.681)

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