Cold Lake First Nations owns 19.8 MW solar farm in Alberta

Cold Lake First Nations, an Indigenous community in Alberta, has announced majority ownership in the 19.8 MW Duchess Solar project in southern Alberta. The project, supplying electricity to over 7,000 homes, was backed by $48.1 million in financing from Elemental Energy, Canada Infrastructure Bank, Alberta Indigenous Opportunities Corporation, Selkirk Advisory Group, and Equitable Life of Canada. CLFN secured its stake through two CIB loans totaling $26.2 million. An additional $21 million loan, substantially guaranteed by AIOC, was arranged by Selkirk and funded by Equitable Life. Nearly 50,000 solar panels were used, creating over 100 jobs during construction. The project aimed to generate long-term community revenue.