Ontario Construction News staff writer
The Saskatchewan Indigenous Investment Finance Corporation (SIIFC) has announced it will provide up to $100 million in loan guarantees to six Indigenous partners to build a new renewable wind energy project southeast of Weyburn, Saskatchewan.
“We are proud to support this historic partnership by providing $100 million in loan guarantees through the Saskatchewan Indigenous Investment Finance Corporation, which will benefit nearly 25 percent of Saskatchewan’s Indigenous population,” said Trade and Export Development Minister Jeremy Harrison. “This project will increase Indigenous participation in Saskatchewan’s economy, create new jobs, and advance economic reconciliation in our province.”
The Seven Stars Energy Project is a collaboration between Enbridge and the Cowessess, George Gordon, Kahkewistahaw, Pasqua, and White Bear First Nations, as well as the Métis Nation-Saskatchewan. These partners will receive up to $100 million in loan guarantees from SIIFC to support acquiring at least 30 percent equity in the project.
“This is Enbridge’s first Indigenous partnership focused on wind energy generation and our first Indigenous partnership in Saskatchewan,” said Enbridge Executive Vice President, Corporate Strategy and President, Power, Matthew Akman. “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.”
This is Saskatchewan indigenous partners secure $100 million for Enbridge wind energy project the first loan guarantee provided by SIIFC, an entity established in 2022 to increase access to capital for Indigenous communities and entities participating in Saskatchewan’s natural resource and value-added agriculture sectors. The loan guarantees through this project are expected to benefit nearly 25 percent of Saskatchewan’s Indigenous population.
“On behalf of Six Nations Energy, we are thrilled to announce the collaboration between our Nation partners and Enbridge to advance sustainable energy solutions in Saskatchewan,” said Six Nations Energy Development LP President Jake Sinclair. “Through a $100 million loan guarantee from the Saskatchewan Indigenous Investment Finance Corporation (SIIFC), this project was able to become a reality. As Enbridge’s first Indigenous partnership in Saskatchewan, this project marks a major milestone, benefiting our communities and making a positive impact across the province. As Indigenous people, we are always thinking forward.”
The new wind energy facility will be designed 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, subject to finalizing commercial agreements, securing the necessary environmental and regulatory approvals, and meeting investment criteria.