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First Nation buys 5% stake in $2.5 billion clean-energy projects

B.C.'s Tahltan Nation bought five percent of three run-of-river hydro-electric projects.

Smiley Team

4 months ago
VICTORIA — An Indigenous nation in northwest British Columbia has bought a stake in clean energy operations worth more than $2.5 billion dollars.

The Tahltan Nation says it purchased 5% of 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 says the deal is a historic economic achievement for the nation as it will generate revenue and provide clean energy for generations.

 The Tahltan purchased its portion of Northwest British Columbia Hydro Electric Facilities for more than $124 million from Axium Infrastructure Canada and Manulife Financial Corporation.

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 Crown-owned energy utility.

The Tahltan Nation says in a statement its territory is home to three of B.C.’s 19 operating mines and represents about 25 percent of current mining exploration activities.

Original article by Canadian Press - Source Canoe
Photo by Megan Johnston on Unsplash

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