Financing is underway for a major Indigenous solar project in southern Saskatchewan.
George Gordon First Nation has plans to build an $82 million dollar 32-megawatt solar project known as the Wicehtowak Solar Project in the Bethune area.
Once completed, the project will provide power directly to the nearby K+S Potash mine for a 30-year agreement.
On Tuesday, the Government of Saskatchewan announced a $7 million loan toward George Gordon Developments for the project.
The financing was made available through the Saskatchewan Indigenous Investment Finance Corporation.
“We are proud to facilitate this strategic partnership with the Saskatchewan Indigenous Investment Finance Corporation and the Bank of Montreal,” GGDL’s Chief Financial Officer Randle Green said. “Securing full equity ownership of the Wicehtowak Solar Project positions George Gordon First Nation to play a leading role in Saskatchewan’s renewable energy sector while strengthening long-term economic sustainability for the community.”
The province says the SIIFC was established to provide access to capital for Indigenous communities and say Tuesday’s loan guarantee is another step toward economic reconciliation.