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By Josh Hall (Twitter: @Vancan19)

Alberta Indigenous Opportunities Corporation

$1.12B energy partnership announced with 23 Indigenous communities

Sep 28, 2022 | 4:38 PM

The Alberta Indigenous Opportunities Corporation (AIOC), a provincial government body, announced Wednesday it is supporting 23 Indigenous communities to buy into seven Enbridge-owned pipelines.

The energy partnership, together with Athabasca Indigenous Investments, is worth $1.12 billion, and is the largest of its kind in North America, the province says.

“Alberta’s government has a moral obligation to share in the bounty and prosperity of this land, which we can finally do through AIOC as a backstop of the government’s faith and credit,” says Premier Jason Kenney.

The 23 communities are:

Metis Settlements

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• Buffalo Lake Metis Settlement
• Kikino Metis Settlement
• Elizabeth Metis Settlement
• Fishing Lake Metis Settlement

Treaty 8 First Nations

• Athabasca Chipewyan First Nation
• Chipewyan Prairie First Nation
• Fort McKay First Nation
• Fort McMurray 468 First Nation
• Mikisew Cree First Nation

Métis communities

• Chard Métis Nation
• Conklin Métis Local 193
• Fort Chipewyan Métis Local 125
• Fort McKay Métis Nation
• McMurray Métis Local 1935
• Willow Lake Métis Nation

Treaty 6 First Nations

• Beaver Lake Cree Nation
• Cold Lake First Nations
• Frog Lake First Nation
• Heart Lake First Nation
• Kehewin Cree Nation
• Onion Lake Cree Nation
• Saddle Lake Cree Nation
• Whitefish/Goodfish Lake First Nation

According to a release, the AIOC began with a mandate to back secure investments in natural resource development projects.

That changed, however, in Feb. 2022 with an expansion into agriculture, telecommunications and transportation.

The minimum investment threshold of $20 million remains in place to be sure projects are large enough to create significant and sustainable earnings for Indigenous communities, the release says.

“AIOC is immensely proud of our role in this historic transaction. When our corporation was created in late 2019, we set out to be a catalyst for Indigenous prosperity here in Alberta, and to see the work we have been able to accomplish in such a relatively short window is beyond exciting,” says Chana Martineau, CEO, Alberta Indigenous Opportunities Corporation.

“This announcement represents everything we want to be known for – multi-generational projects that bring real economic prosperity to Indigenous and Métis communities in Alberta.”

Rick Wilson, Minister of Indigenous Relations, added that today’s announcement means a more stable economic future ahead for all 23 Indigenous communities.