Enbridge, First Nations And Metis Partner To Advance 200 MW Wind Energy Project In Saskatchewan
(RTTNews) - Enbridge Inc. (ENB, ENB.TO) and Six Nations Energy Development LP (Six Nations) - a newly-created consortium of Cowessess First Nation, George Gordon First Nation, Kahkewistahaw First Nation, Metis Nation-Saskatchewan, Pasqua First Nation and White Bear First Nations - announced Monday plans to advance development of a new wind energy project southeast of Weyburn, Saskatchewan.
The Seven Stars Energy Project is expected 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.
Financial participation of the partners will be supported, in part, by loan guarantees of up to $100 million from the Saskatchewan Indigenous Investment Finance Corporation (SIIFC). The First Nation and Metis partners have an opportunity to acquire equity ownership of at least 30% in the Project.
The Project is targeted to be operational in 2027, subject to finalizing commercial agreements, securing the necessary environmental and regulatory approvals, and meeting investment criteria.
Enbridge is working toward securing a long-term power purchase agreement with SaskPower to support final investment decisions, anticipated in 2025.
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