Varcoe: In massive power project deal, province gives First Nations ‘seat at the table’, model for future – Calgary Herald

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Varcoe: In massive power project deal, province gives First Nations ‘seat at the table’, model for future – Calgary Herald

by ahnationtalk on September 10, 202052 Views

‘Today marks the beginning of a new era of Indigenous partnership and economic development,’ corporation chief executive Alicia DuBois said at a news conference at the Enoch Cree Nation

It’s backed by a $93-million loan guarantee by the government of Alberta, although the province, industry players and First Nations leaders hope it becomes a gateway to much more.

The Alberta Indigenous Opportunities Corp. (AIOC) unveiled its first deal Wednesday, providing a loan guarantee to help six First Nations acquire an equity interest in the $1.5-billion Cascade Power Project. The large combined-cycle gas-fired generation facility is now being built southwest of Edson.

The Crown corporation was established by the UCP government last year with the aim of promoting Indigenous participation in natural resource developments, such as pipelines and power plants.

Read More: https://calgaryherald.com/opinion/columnists/varcoe-in-massive-power-project-deal-province-gives-first-nations-seat-at-the-table-model-for-future

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