Parties
Company
Chiniki and Goodstoney First Nations (the Nations)
Company
ATCO Ltd. (ATCO)
Chiniki and Goodstoney First Nations (the Nations) and ATCO Ltd. (ATCO) today announced a partnership agreement for the Deerfoot and Barlow Solar power projects, the largest solar installation in an urban center in Western Canada. Under the terms of the agreement, the Chiniki and Goodstoney First Nations have become the majority owners with a 51 percent ownership stake in the facilities, and Canadian Utilities Limited, an ATCO company, will maintain a 49 percent stake.
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.
Construction of the 37-megawatt Deerfoot project is planned to be complete soon, with commercial operations targeted for Q3 2023.
Deal Type
Joint VentureIndustry
EnergyTransaction
Undisclosed/ConfidentialDeal Status
ClosedClosing Date
11 September 2023