Alberta Solar Project Boosts Indigenous Ownership with Major Infrastructure Bank Partnership

The Canada Infrastructure Bank (CIB) is partnering with Alberta Indigenous Opportunities Corporation (AIOC), Selkirk Advisory Group Inc., and Equitable Life of Canada to finance the Duchess Solar project in Duchess, Alberta. This 19.8-megawatt solar facility will significantly advance Indigenous ownership, with Cold Lake First Nations holding a majority stake, marking a key step in economic reconciliation.

Key Takeaways

• A total of $48.1 million in financing has been secured for the Duchess Solar project.

• Cold Lake First Nations will hold majority ownership, supported by CIB loans and an AIOC loan guarantee.

• The project will generate over 100 jobs during construction and create long-term operational roles.

• Power from the 49,700 solar panels will supply approximately 7,000 households.

Advancing Indigenous Ownership in Clean Energy

The Duchess Solar project represents a significant collaboration aimed at bolstering clean energy infrastructure while empowering Indigenous communities. Cold Lake First Nations (CLFN) will be the majority owner of the 19.8-megawatt solar facility, developed in partnership with Elemental Energy. This ownership structure is made possible through a combination of financing from the CIB and Equitable Life, with substantial support from AIOC.

Financial Structure and Support

The project is backed by a combined $48.1 million in financing. The CIB is providing $21 million through its Indigenous Community Infrastructure Initiative loan and an additional $5.2 million via an Indigenous Equity Investment loan. Complementing this, Equitable Life is providing a $21 million project finance loan, which is substantially guaranteed by AIOC. Selkirk Advisory Group Inc. arranged this latter financing. This multi-faceted financial approach strengthens CLFN's capacity to secure majority ownership and generate long-term revenue for community development.

Economic and Environmental Impact

Once operational, the Duchess Solar facility, comprised of 49,700 solar photovoltaic panels, is expected to supply electricity to approximately 7,000 households, thereby strengthening Alberta's energy grid. Beyond clean energy generation, the project is projected to create over 100 jobs during its construction phase, with additional full-time positions established for ongoing operations and maintenance. This initiative is highlighted as a prime example of how innovative financing can drive success for Indigenous-led infrastructure projects, fostering economic benefits for future generations.

Collaborative Partnerships

This venture underscores the commitment of various organizations to Indigenous economic development and clean energy. Ehren Cory, CEO of the Canada Infrastructure Bank, emphasized the project's role in demonstrating how flexible financing can lead to success for Indigenous-led infrastructure. Minister of Housing and Infrastructure, Gregor Robertson, noted the project's contribution to economic reconciliation. Chief Kelsey Jacko of Cold Lake First Nations expressed pride in the partnership and the project's long-term community benefits, while Elemental Energy's Principal, Jamie Houssian, highlighted the creative financing structure. AIOC CEO Chana Martineau and Alberta Government Minister Rajan Sawhney also lauded the project's role in economic reconciliation and supporting Alberta's energy future.

Sources

• The Canada Infrastructure Bank Announces Partnership On Solar Power Facility In Duchess, Alta., Canadian Manufacturing.

• Clean Energy Partnership Advances Indigenous Ownership in 19.8 MW Duchess Solar, CIB BIC.