CALGARY, Alberta--(BUSINESS WIRE)--EDF Renewables, Canada today announced the signing of a 20-year Renewable Electricity Support Agreement (RESA) with the Alberta Electricity System Operator (AESO) for the renewable attributes related to the 201.6 megawatt (MW) Cypress Wind Project. The contract, secured through Round 2 of the Renewable Electricity Program’s (REP2) competitive procurement process managed by the AESO on behalf of the Alberta Government, represents a partnership between EDF Renewables, Canada and the Blood Tribe.
Cypress Wind is located on approximately 11,400 acres of privately owned land southeast of Medicine Hat, in Cypress County, Alberta, in the Traditional Territory of the Blood Tribe. The project is expected to create more than 250 jobs at peak construction along with millions of dollars injected into the local economy. When operational in 2021, the electricity generated at full capacity will power up to 100,000 average Alberta homes. Construction is anticipated to begin in 2020, following the receipt of all required provincial and municipal approvals and permits.
“EDF Renewables is honored to partner with the Blood Tribe and support their tradition of turning innovative economic development strategies into sustainable businesses like the Cypress Wind Project,” said David Warner, development manager for EDF Renewables Canada. “In the past year, the Cypress Wind Project team engaged with community members, local government officials and local businesses to make sure that the final design was socially, environmentally and economically sustainable. Our goal is to minimize potential impacts to the environment, local stakeholders and Indigenous communities and to bring important economic opportunities to the Blood Tribe and Alberta businesses.”
Chief Roy Fox of the Blood Tribe praised the opportunity for his Nation to participate in the Cypress Wind Project, “For more than 70 years, the Blood Tribe of southern Alberta has played a key role in the success of Alberta’s energy sector. Our Reserve is Canada’s largest and these unique and diverse lands and associated natural resources have historically attracted many Alberta industries. The wind and solar resources over the Blood Tribe Traditional and Ancestral Lands are similarly attractive to the renewable energy industry and it is time we participated actively in their development instead of watching from the sidelines. The REP2 Indigenous Community participation requirement provided the opportunity to own a renewable energy facility in partnership with a world-class developer. We look forward to a long and mutually beneficial relationship with EDF Renewables in the Cypress Wind Project.”
Indigena Capital, LP, an investment firm specializing in partnering exclusively with Tribal Nations in the U.S. and First Nations, Inuit and Métis peoples in Canada, acted as the technical, transaction, and financial partner to the Blood Tribe in respect of the REP2 program. Chief Fox commented, “We are pleased that our partnership with Indigena Capital continues to bring about opportunities designed to assist us in our ultimate goal of attaining financial sovereignty and look forward to realizing the economic benefit from Cypress Wind.” President of Indigena, Christine Robertson added, “Indigena Capital is delighted to be working with the Blood Tribe and EDF Renewables to provide capital for a project and a partnership of this caliber.”
About EDF Renewables North America:
EDF Renewables North America is a market leading independent power producer and service provider with over 30 years of expertise in renewable energy. The Company delivers grid-scale power: wind (onshore and offshore), solar photovoltaic, and storage projects; distributed solutions: solar, solar+storage, EV charging and energy management; and asset optimization: technical, operational, and commercial skills to maximize performance of generating projects. EDF Renewables’ North American portfolio consists of 10 GW of developed projects and 10 GW under service contracts. In Canada, the Company has 1,600 MW of wind and solar power facilities in service or under construction and 4,200 MW under development. EDF Renewables is a subsidiary of EDF Renouvelables, the dedicated renewable energy affiliate of the EDF Group. For more information visit: www.edf-re.com
About the Blood Tribe:
The Blood Tribe is a member of the Blackfoot Confederacy and a Treaty 7 Nation. Located approximately 200 kilometers south of Calgary, Alberta, the Blood Tribe has the largest Reserve in Canada, encompassing nearly 560 square miles, with over 13,000 members both on and off-Reserve. The Blood Tribe’s focus on business enterprises is anchored by decades of oil and gas development on their lands, and in their operation of the largest irrigation project in Canada.
The principals of Indigena have specialized in partnering exclusively with Tribal Nations in the United States and First Nations, Inuit and Métis peoples in Canada for over three decades. In response to Nations’ requests to help build their economies, Indigena’s principals have partnered in over 70 transactions, invested $450 million of direct capital and sourced $1.7 billion in joint venture capital. Indigena partners with Indigenous Nations to assess their unique rights and resources, investing early stage capital to assist them in taking an active role in development. Through disciplined capital allocation, the return expectations of investors can be met while creating the foundation for self-sustaining economies for Nations. Please visit: www.indigenacapital.com