Six First Nations to invest $93M in power plant with loan guarantee from Alta. Crown corporation – CTV

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Six First Nations to invest $93M in power plant with loan guarantee from Alta. Crown corporation – CTV

by ahnationtalk on September 9, 202048 Views

September 9, 2020

EDMONTON — The first move by a $1-billion Crown corporation, newly created to support Indigenous involvement in major resource projects, will be to provide a loan guarantee to six First Nations to secure a stake in the Cascade Power Project by Edson, Alta.

The consortium consists of Alexis Nakota Sioux Nation, Enoch Cree Nation, Kehewin Cree Nation, O’Chiese First Nation, Paul First Nation and Whitefish Lake First Nation.

Together, the nations will invest $93 million in the Kineticor Resource Corp.-owned project.

“It wasn’t easy. It wasn’t straight forward. It took a lot of back and forth,” Premier Jason Kenney said at the Wednesday announcement.

Read More: https://edmonton.ctvnews.ca/six-first-nations-to-invest-93m-in-power-plant-with-loan-guarantee-from-alta-crown-corporation-1.5097695

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