The Tahltan Nation purchased five percent of the Northwest British Columbia Hydro Electric Facilities.
There are three run-of-the-river-projects that are located in the territory, Forrest Kerr, McLymont Creek, and Volcano Creek. This is the largest clean energy investment done by a First Nation in British Columbia’s history and even one of the largest clean energy investments by a First Nation in Canadian history.
The cost to build the project was over one billion dollars. Back in 2014, the nation began buying equity and partnership into the project when it was only a 2 million dollar investment with a 2.7 percent interest.
AltaGas decided to sell ninety percent of the projects at that time and the Nation was in a position where they could buy into the projects further.
President of the Tahltan Central Government, Chad Norman Day said the nation required 95 million dollar loan.
“As we pay off that loan we’re continually making money on our portion of that project which is going to funnel divot ends into our nation that can then be utilized to ensure that we have more capital to be a self-sustainable nation that’s economically independent,” said Day.
Day also said knowing the nation made the largest clean energy investment by a First Nation in British Columbia history it feels amazing.
“I’m extremely proud of the Tahltan people. This was a group effort from our Tahltan heritage trustees, from the current leadership, from the former leadership from the hundred of Tahltan’s that helped construct these run of the river projects and we would never have these kind of opportunities if it wasn’t for our ancestors,” said Day
The project is an important milestone for the nation because it continues to move toward its goal of becoming an economically independent and self-sufficient First Nation.