In March 2025, AIOC provided a $22 million loan guarantee to support Cold Lake First Nations (CLFN) in a majority ownership in the Duchess Solar project, a 19.8-megawatt solar facility being constructed in Duchess, Alberta, in partnership with Elemental Energy.
A combined $48.1 million in financing., with financing from two sources: (1) a $21 million Indigenous Community Infrastructure Initiative loan and a $5.2 million Indigenous Equity Investment loan from the CIB and (2) a $21 million project finance loan substantially guaranteed by AIOC, funded by Equitable Life and arranged by Selkirk.
Power produced by 49,700 solar photovoltaic panels will supply approximately 7,000 households with reliable, lower-cost electricity and strengthen Alberta’s energy grid. The project will also generate more than 100 jobs during construction, with full-time roles to support long-term operations and maintenance.
Image note – this is a stock image, project construction estimated to be complete Spring 2025