Enbridge Inc. announced an agreement today for the Stonlasec8 Indigenous Alliance Limited Partnership to acquire a 12.5% interest in Enbridge's Westcoast natural gas pipeline system. The First Nations Partnership, representing 36 First Nations in B.C., will invest approximately CAD$715 million ($511.19 million) in the system.
This transaction marks a historic advancement in equity ownership for Indigenous communities in major resource projects. It is also the first deal to include financing from a new federal loan program designed to support Indigenous groups in owning parts of such projects.
The divestiture allows Enbridge to recycle capital while strengthening its relationships with Indigenous stakeholders, which is crucial for long-term operational stability and project development in Canada. This partnership underscores a commitment to shared economic benefits and reconciliation.
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