Edmonton-based energy producer Capital Power has signed a three-year partnership and equity-option agreement with a central Alberta First Nations group, granting them a stake in a Halkirk-area wind project.
The agreement between Capital Power and Louis Bull Tribe, Ermiskine Cree Nation, Montana First Nation, and Samson Cree Nation, known collectively as the four nations of Maskwacis, will become active upon the commercial operation of the Halkirk 2 Wind project, which is currently under construction in the northwest section of Paintearth County.
Construction of the 126-megawatt project, located 100-kilometres southeast of Maskwacis, is about 50 per cent complete with operations expected to begin in December.
At the conclusion of the three-year agreement, the four First Nations will have an opportunity to acquire a 25 per cent ownership stake in the project.
"As part of Capital Power’s commitment to reconciliation, the agreement provides an equitable profit-sharing model that supports a pathway for future, long-term equity ownership in the project that can support these nations with sustainable income throughout the lifetime of its operations," states the release announcing the agreement.
The release continues that this is the first such partnership with Indigenous communities in the province.
"Our partnership with Louis Bull Tribe, Ermineskin Cree Nation, Montana First Nation and Samson Cree Nation represents a significant step forward on Capital Power’s journey of reconciliation," said May Wong, Senior Vice President of Capital Power.
"We hope this can be the blueprint for many more in the future.”
Discussions between Capital Power and the Four Nations of Maskwacis about a potential partnership began more than a year ago and is part of Capital Power's "ongoing reconciliation journey."
“This is the first such stake that Louis Bull will have in a renewable energy project,” said Chief Desmond Bull, Louis Bull Tribe. “This agreement will provide long-term financial return for our people and our community. This is a true example of economic reconciliation.”
Capital Power has also partnered with Bears' Lair TV Youth Dream Camps, a program offering Indigenous youths an opportunity to explore the business world and life as an entrepreneur on the way to a "path to self-reliance."
"To date, Capital Power has sponsored and participated in five camps in Enoch Cree Nation, Paul First Nation, Alexander First Nation, Alexis Nakota Sioux Nation, and most recently in Maskwacis," continues the release.
"It’s a privilege to support Indigenous youth in partnership with Bears’ Lair TV," said Sue Cardinal, manager of Community and Indigenous Engagement.
"These camps uplift and empower youth to become young entrepreneurs through providing a safe space to learn and practice important life skills such as public speaking, collaboration and confidence. It’s an incredible experience supporting these creative young minds as they seek to transform the world through an Indigenous worldview."
The partnership agreement between Capital Power and the four nations of Maskwacis was signed on July 19.
