First Nations become majority owners of largest urban solar installation in
Chiniki and Goodstoney First Nations (the Nations) and
The Chiniki and Goodstoney majority ownership of the projects is expected to generate economic returns for the Indigenous communities and contribute to the lasting prosperity of the Nations for future generations.
"This is a significant day for First Nations involvement in the rapidly growing renewable energy sector," said Chief
"This partnership with ATCO demonstrates a respectful and collaborative approach to major infrastructure projects," said Chief
One of ATCO's fundamental tenets is to build, strong, mutually prosperous Indigenous partnerships. ATCO currently has more than 50 partnerships, joint ventures and relationship agreements with Indigenous communities.
"For decades ATCO has partnered with Indigenous communities to create truly equitable partnerships and today we are thrilled to officially welcome Chiniki and Goodstoney First Nations as majority partners in this important clean energy infrastructure," said
As a leader in the energy transition, ATCO is growing its renewable energy portfolio in
Axxcelus Capital Advisory, a firm dedicated to facilitating Indigenous ownership of major assets and capital projects, acted as exclusive advisor to the Nations.
"We appreciate the trust the Nations put in Axxcelus to act as the exclusive advisor on this important opportunity," said
Located in southeast
Chiniki First Nation and Goodstoney First Nation are part of the Stoney Nakoda Nations. The Stoney Nakoda are the original "peoples of the mountains" known in Nakoda language as the Iyarhe Nakoda and previously as the Iyethkabi. Since Treaty in 1877 to the present day, each of the Nations have maintained separate memberships and have elected their separate respective Chief and four Councillors.
Working with both Indigenous communities and Industry Axxcelus Capital Advisory is a financial services firm dedicated to empowering Indigenous communities by facilitating their ownership of major assets. The firm currently represents clients in the following sectors: Renewable and Non-Renewable Power Generation, Energy Storage, Energy Infrastructure, and Carbon Capture Utilization and Storage. For more information about Axxcelus, please visit www.axxcelus.ca.
Chiniki and Goodstoney Media Inquiries:
smacdonald@brooklinepr.com
403-585-4570
ATCO Investor & Analyst Inquiries:
Senior Vice President
Finance,
Colin.Jackson@atco.com
403 808 2636
ATCO Media Inquiries:
Director, Corporate Communications
Kurt.Kadatz@atco.com
587 228 4571
Forward-Looking Information Advisory
Certain statements contained in this news release constitute forward-looking information. In particular, forward-looking information in this news release includes references to: economic returns and benefits to be generated by the Deerfoot and Barlow solar projects; the timing of commercial operation of the Deerfoot solar project; the electricity generation output expected from the projects and greenhouse gas emission reductions expected in relation to the projects.
While it is believed that the expectations reflected in the forward-looking information are reasonable based on the information available on the date such statements are being made and processes used to prepare the information, such statements are not guarantees of future performance and no assurance can be given that these expectations will prove to be correct. Forward looking information should not be unduly relied upon. By their nature these statements involve a variety of assumptions, known and unknown risks and uncertainties, and other factors, which may cause actual results, levels of activity, and achievements to differ materially from those anticipated in such forward-looking information. The forward-looking information reflects beliefs and assumptions with respect to, among other things: the development and performance of technology and technological innovations; collaboration with business partners, regulatory and environmental groups; the performance of assets and equipment; the ability to meet current project schedules.
Actual results could differ materially from those anticipated in the forward-looking information as a result of, among other things: risks inherent in the performance of assets; applicable laws, regulations and government policies; regulatory decisions; prevailing market and economic conditions; credit risk; the availability and cost of labour, materials, services, and infrastructure; the development and execution of projects; prices of electricity, natural gas, natural gas liquids, and renewable energy; the development and performance of technology and new energy efficient products, services, and programs including but not limited to the use of zero-emission and renewable fuels, carbon capture, and storage, electrification of equipment powered by zero-emission energy sources and utilization and availability of carbon offsets; the termination or breach of contracts by contract counterparties; the occurrence of unexpected events such as fires, severe weather conditions, explosions, blowouts, equipment failures, transportation incidents, and other accidents or similar events; and other risk factors, many of which are beyond control. Due to the interdependencies and correlation of these factors, the impact of any one material assumption or risk on a forward-looking statement cannot be determined with certainty.
Readers are cautioned that the foregoing lists are not exhaustive. For additional information about the principal risks that ATCO faces, see "Business Risks and Risk Management" in ATCO's Management's Discussion and Analysis for the year ended
Forward-looking information contained in this news release represents expectations as of the date hereof, which may change after such date. There is no intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
SOURCE
© Canada Newswire, source