Wed Sep 25 08:02:15 UTC 2024: ## Indigenous Equity Ownership in Canadian Infrastructure Projects Surges
**CALGARY** – A wave of new agreements and projects across Canada are seeing Indigenous communities gain significant equity ownership in major infrastructure projects, including energy and renewable energy developments. This trend reflects a growing commitment to reconciliation and Indigenous economic self-determination.
This year has witnessed several milestones, including BC Hydro’s mandate for 25% First Nations ownership in its new clean energy projects. This procurement program, the utility’s first competitive request in 15 years, attracted three times more energy proposals than anticipated.
Another significant achievement was the final investment decision for Cedar LNG, a US$4-billion liquefied natural gas terminal off the coast of British Columbia. The project is majority-owned by the Haisla Nation, marking the largest Indigenous-owned infrastructure project in Canada.
While corporations have historically offered construction jobs or procurement opportunities, there is now a shift towards granting full equity stakes to Indigenous communities, allowing them to generate revenue and economic opportunities.
TC Energy Corp. recently announced a $1-billion agreement to sell a minority stake in its Western Canadian natural gas transmission network to a consortium of Indigenous communities. While the deal faces some hurdles, it has the potential to be the largest-ever Indigenous equity agreement in Canadian history.
Sharleen Gale, chair of the First Nations Major Projects Coalition, expresses optimism about the future, stating, “It certainly has been a good year, and it has also given us as Indigenous people a lot of hope about the future, especially going into 2025.”
Justin Bourque, president of Athabasca Indigenous Investments, highlights the evolving relationship between Indigenous communities and corporations: “We still see a focus on respecting rights and providing access to procurement opportunities and jobs and employment and training… but Indigenous communities are looking to be part owners in the future as we continue to develop Canada.”
Law firm Fasken reports a dramatic increase in Indigenous equity investments in energy and related infrastructure projects over the past two years, with 28% of all investments occurring in the last two years alone.
However, access to capital remains a significant challenge for Indigenous communities. Government-backed loan guarantees have helped, but alternative financing options are crucial for larger projects and continued growth.
With the clean energy transition gaining momentum, the number of renewable energy projects with Indigenous equity participation is expected to grow significantly. James Jenkins, executive director of Indigenous Clean Energy, emphasizes the need to support capacity and leadership development within Indigenous communities and businesses to ensure they are ready for this wave of projects.
This growing trend towards Indigenous equity ownership signifies a significant step towards reconciliation and economic empowerment. While challenges remain, the commitment to Indigenous self-determination is driving a positive transformation in Canada’s infrastructure landscape.
First Piper 