Enbridge, First Nations and Métis partners to advance 200-megawatt wind energy project in Saskatchewan
Source: | · ENBRIDGE · | June 24, 2024
Today, Enbridge Inc. (Enbridge or the Company) (TSX: ENB) (NYSE: ENB) and Six Nations Energy Development LP (Six Nations) – a newly-created consortium of Cowessess First Nation, George Gordon First Nation, Kahkewistahaw First Nation, Métis Nation-Saskatchewan, Pasqua First Nation and White Bear First Nations – announced plans to advance development of a new wind energy project southeast of Weyburn, Saskatchewan.
The Seven Stars Energy Project (the Project) is expected to produce 200 megawatts of emissions–free power – enough to support the annual energy needs of more than 100,000 Saskatchewan homes. It will be developed, constructed and operated by a wholly-owned indirect subsidiary of Enbridge.
Financial participation of the partners will be supported, in part, by loan guarantees of up to $100 million from the Saskatchewan Indigenous Investment Finance Corporation (SIIFC). The First Nation and Métis partners have an opportunity to acquire equity ownership of at least 30% in the Project.
The Project is targeted to be operational in 2027, subject to finalizing commercial agreements, securing the necessary environmental and regulatory approvals, and meeting investment criteria. Enbridge is working toward securing a long-term power purchase agreement with SaskPower to support final investment decisions, anticipated in 2025.
"This is a game-changer for the Indigenous Nations, Métis and First Nations," said Chief Matthew Peigan of Pasqua First Nation. "This Project will produce emissions-free electricity for Saskatchewan and provide a stable source of revenue that will benefit our people for many years to come. We are pleased Enbridge sees that meaningful Indigenous ownership is the way to build energy infrastructure in this country and we look forward to developing this Project together."
"We're pleased to be working with Enbridge and have the opportunity to strengthen our kinship with First Nations on this important renewable energy initiative. This is our moment to not only benefit the environment but support the long-term well-being of our communities and advance First Nation and Métis economic reconciliation," said Métis Nation–Saskatchewan (MN–S) Minister of Economic Development and Tourism, Brent Digness. "It takes teamwork to complete complex projects like Seven Stars Energy. The MN–S government has taken steps to minimize risk to our citizens and will work with the federal government to secure additional support for our investment."