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CIB invests in $52M Tilley solar project

Apr 12, 2024 | Public | 0 comments

Tilley solar site in Newell, Alberta (CNW Group/Canada Infrastructure Bank)

 

The 23.6 megawatt Tilley Solar project in Newell, Alberta has reached financial close. The project will be built on Treaty 7 territory located 200 kilometres southeast of Calgary.

Partners include Concord Green Energy (a subsidiary of Vancouver’s Concord Pacific),  the Alexander First Nation, and the First Nation Power Development (FNpower).

The Canada Infrastructure Bank (CIB) has committed $33 million to the Tilley Solar project. The total project cost is $52 million and will include the economic interests of the Alexander First Nation and FNpower, an Indigenous-owned organization dedicated to empowering First Nation community ownership and participation in the emerging renewable energy industry.

“Directly impacting the Alexander First Nation through job creation and long-term economic prosperity, our investment in the Tilley Solar Project will help foster economic reconciliation while advancing a more sustainable grid. Our collective approach to project development sets an example for future partnerships of Indigenous leadership in renewable projects that can be replicated across Canada,” said Ehren Cory, CEO, Canada Infrastructure Bank.

The solar farm, which includes 69,450 fixed-tilt solar photovoltaic panels, will help reduce greenhouse gas emissions in Alberta by approximately 14,200 tonnes annually.

The sustainable, large-scale energy project will support long-term socio-economic benefits for the Nation and their partners. The project will generate more than 280 full-time jobs at peak and is estimated to create $14 million in direct labour income and add $6 million of indirect labour income.

“This great partnership with Chief George Arcand and the Alexander First Nation is our second major solar project with Alberta First Nations. We have been seeing this sector grow in Alberta and look to scale up on more projects in solar and hydro like Amisk Hydroelectric on the Peace River,” said Terry Hui, president and CEO, Concord Pacific Group

Following the CIB’s recent investment in the Deerfoot and Barlow Solar projects in Calgary, Tilley Solar represents the CIB’s second Indigenous Community Infrastructure Initiative clean power investment to reach financial close in Alberta.

The post CIB invests in $52M Tilley solar project appeared first on REMINET.

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