The Seven Stars Energy Project, located near Weyburn, is slated to produce 200 megawatts of clean electricity, enough to fuel more than 100,000 homes for a year.
Six Nations Energy Development, a consortium of First Nations in southeast Saskatchewan along with Métis Nation-Saskatchewan, have an opportunity to acquire at least a 30 per cent stake in the project. A $100 million loan guarantee from the Saskatchewan government's Indigenous Investment Finance Corp. will help achieve that, Six Nations says.
Project costs have not been disclosed, but Peigan said during the conference that it would be in the"hundreds of millions of dollars." Enbridge is working on a long-term power purchase agreement with SaskPower, the province's Crown utility company, before making final investment decisions on the project next year.
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