Cold Lake First Nations (CLFN) will hold majority ownership in a new solar power project being built in Duchess, a 19.8 megawatt facility that will supply clean energy to more than 7,000 homes.
Supported by $48.1 million in financing, the project includes installing nearly 50,000 solar panels and it is expected to create over 100 jobs during construction, with further job opportunities in operations and maintenance. T
he initiative is a partnership with Elemental Energy and is supported by the Canada Infrastructure bank (CIB), Alberta Indigenous Opportunities Corporation (AIOC), Selkirk Advisory Group and Equitable Life of Canada.
“This project reflects Cold Lake First Nations’ vision of clean energy leadership and community prosperity,” said Chief Kelsey Jacko. “This is economic reconciliation in action.”
CLFN’s investment is supported by a combination of funding, including a $21 million loan from CIB’s Indigenous Community Infrastructure Initiative, $5.2 million from CIB’s Indigenous Equity Investment program, and a $21 million project finance loan put together by Selkirk with most of the risk covered by AIOC and funds provided by Equitable Life.
Minister of housing and infrastructure Gregor Robertson and AIOC CEO Chana Martineau both praised the project as a milestone for inclusive and sustainable economic development.
