Enbridge, First Nations & Métis Partners to Advance 200megawatt Wind Farm Project

Source: www.gulfoilandgas.com 6/24/2024, Location: North America

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."

"This is Enbridge's first Indigenous partnership focused on wind energy generation and our first Indigenous partnership in Saskatchewan," said Matthew Akman, Enbridge's Executive Vice President, Corporate Strategy and President, Power. "The clean electricity Enbridge and our Indigenous partners will provide will help meet the demand for safe, reliable and affordable energy for residential, small business and industrial use well into the future. This is a unique opportunity for the growth of our renewables portfolio, and one that I am excited to advance alongside our new partners."

"Enbridge has proudly and safely operated in Saskatchewan for more than 75 years and we have a long history of working closely with the province, local communities and First Nations and Métis peoples," said Colin Gruending, Enbridge's Executive Vice President and President, Liquids Pipelines. "We see Indigenous economic participation in our projects and operations as an important element of broader reconciliation and applaud the Government of Saskatchewan for establishing the SIIFC, which has helped make this investment opportunity possible for our new Indigenous partners."

"In collaboration with industries' evolving energy needs, SaskPower continues to make progress on our commitment of achieving net-zero greenhouse gas emissions by 2050 and deploying up to 3,000 MW of wind and solar generation by 2035," said Dustin Duncan, Saskatchewan Minister Responsible for SaskPower. "Partnerships like this between Enbridge and Six Nations Energy Development will support SaskPower in achieving its emission reduction targets, while also providing extraordinary benefits to Saskatchewan's First Nations communities."

"We are pleased to support this historic announcement by providing loan guarantees through SIIFC which will benefit nearly 25 per cent of Saskatchewan's Indigenous population," Minister of Trade and Export Development Jeremy Harrison said. "This project will significantly advance economic reconciliation in our province, which is a priority for our government and vital for the province's continued growth and prosperity."

"Partnerships like this take commitment, creativity and ultimately a leap of faith," said Jake Sinclair, President of Six Nations Energy Development LP. "I am proud of our team who have leaned-in with Enbridge on the ultimate goal of delivering a sustainable project that provides both energy to Saskatchewan and strong financial returns for Enbridge and the First Nations and Métis partners for many years to come."

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