B.C. First Nation buys 5% stake in clean-energy projects worth $2.5B

AltaGas’ 195-MW Forrest Kerr Hydroelectric Facility is seen in this undated handout photo. The Tahltan First Nation says it has signed a deal to buy into a trio of hydro projects in its territory in what it says is the largest ever renewable investment by a First Nation in British Columbia. (The Canadian Press/HO, AltaGas Ltd) A First Nation in northwest British Columbia says an investment in clean-energy projects worth more than $2.5 billion represents a historic move toward its economic independence. The Tahltan Nation announced Monday the purchase of a five per cent stake in three run-of-river hydro-electric projects located in its traditional territories, which include the communities of Iskut, Dease Lake and Telegraph Creek. Tahltan Central Government President Chad Day said the deal marks a significant economic achievement for the nation as it will generate revenue and provide clean energy for decades. The Tahltan purchased a portion of Northwest British Columbia Hydro Electric Facilities for more than $124 million from Axium Infrastructure Canada and Manulife Financial Corporation, Day said in a phone interview. Three projects The power-generating facilities include run-of-the-river projects, Forrest Kerr, McLymont Creek and Volcano Creek, which produce electricity sold to BC Hydro, the province’s […]

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