Skip to content

Alberta Indigenous Opportunities Corporation Announces First Participation in Cascade Power Project

Six First Nations acquire equity stake in $1.5-billion power plant project

The Alberta Indigenous Opportunities Corporation (AIOC) is pleased to announce that as its first commitment it has provided a loan guarantee to a consortium of six Alberta First Nations to enable their participation in the Cascade Power Project (Cascade). Cascade is a 900MW combined cycle natural gas fired power plant located near Edson, AB. The transaction is a culmination of intensive efforts by multiple parties including Kineticor Resource Corp., OPTrust and Backwoods Energy Services (Backwoods), which is owned by the Alexis Nakota Sioux Nation.

The First Nations will invest through a holding vehicle owned by Alexis Nakota Sioux Nation, Enoch Cree Nation, Kehewin Cree Nation, O’Chiese First Nation, Paul First Nation, and Whitefish (Goodfish) Lake First Nation.