Investment in Cascade natural gas power plant by First Nation communities
Alberta's Enoch Cree Nation will receive a CAD 93 million equity investment from the Alberta Indigenous Opportunities Corporation into their CAD 1.5 billion Cascade natural gas power plant. The project is a joint venture between Enoch and five other Treaty Six First Nations.
The powerplant is expected to generate "hundreds of millions of dollars in revenue" for these nations, which are still grappling with the economic downturn following the Covid-19 pandemic. The Cascade Project is a 900-megawatt combined cycle gas turbine power plant that is forecasted to supply 8 per cent of Alberta’s average electricity demand and is slated to be completed by the fall of 2023.
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