Tahltan First Nation buys into $2.5 billion hydro project in British Columbia
VANCOUVER — The Tahltan First Nation says it has signed a $124.3 million deal to buy into a trio of hydro projects in its territory in what it says is British Columbia’s largest-ever renewable investment by a First Nation.
The nation, which includes the communities of Iskut, Dease Lake, and Telegraph Creek, says it has agreed to purchase a five per cent stake in the Northwest British Columbia Hydro Electric Facilities from Axium Infrastructure Inc. and Manulife Financial Corp.
The facilities include the 195-megawatt Forrest Kerr, the 16-megawatt Volcano Creek, and the 66-megawatt McLymont Creek run-of-river hydroelectric projects that together are valued at $2.5 billion.
The investment comes as part of a wider effort by Indigenous communities across Canada to invest in renewable projects, both to reduce dependence on fossil fuel energy and for the potential long-term financial returns.