Indigena Capital Update on Pe-na-koam on-Reserve Wind Project

The Kainai/Blood Tribe and Indigena Capital Provide an Update on Pe-na-koam on-Reserve Wind Project

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STANDOFF, AB – In 2016, the Kainai/Blood Tribe through their Kainaiwa Resources (“KRI”) development entity, partnered with Indigena Capital, LP (“Indigena”), to advance the on-Reserve Pe-na-koam wind project.  This 200 to 300 megawatt (“MW”) project will be the first industrial scale electricity generation wind farm of its kind on-Reserve in Alberta and will provide companies searching for power purchase agreements and/or renewable energy credits an option that also enables them to maximize their social impact.

“There are currently over 40 wind projects operating or underway in the Traditional Territory of the Blood Tribe in Alberta, but a noticeable absence of generation scale on-Reserve wind energy projects,” said Chief Roy Fox of the Kainai/Blood Tribe.  “In 2016 we set out to rectify this and began to re-evaluate the wind project opportunities on our lands.  With the help of our financial partner, Indigena Capital, we worked out a model to take an active role, instead of simply leasing out our lands to others to develop a project, something we are regularly approached by industry to do.  Indigena was able to provide the equity capital necessary for us to move this project forward to the stage where we could attract the right industry developer to partner with us in Pe-na-koam.”

“We are pleased to welcome a large-scale developer to the Pe-na-koam project on the Kainai/Blood Reserve,” said Christine Robertson, President, Indigena Capital.  “Key to any commercial opportunity of this scale that we progress with our partner Nations is to target qualified development partners.  Indigenous Communities look to successful commercial developments to provide for their socio-economic wellbeing for generations, so it is important to Indigena to ensure that each project undertaken can be best in class to achieve long-lasting benefits for the Nation, while achieving sector returns for investors.  We are honoured to have been chosen to partner with the Kainai/Blood Tribe in their renewable energy opportunity.”

The Pe-na-koam project is located on a site at the north end of the Kainai/Blood Tribe Reserve and comprises contiguous lands and ready access to transmission infrastructure, also located on the Kainai/Blood Tribe Reserve.  The Kainai/Blood Tribe’s economic participation in the partnership is designed to provide long-term stable commercial revenues, as well as jobs, and land rents that will benefit the Nation. 

In 2020 two new meteorological tower installations began monitoring conditions to optimize design of the project.  Expected at between 200 and 300 MW, Pe-na-koam Wind is ideally suited for Commercial and Industrial off-takers desiring to contract for power purchase and/or for renewable energy credits.  Companies searching to secure power purchase agreements and/or renewable energy credits, while also maximizing social impact are welcome to open discussions.

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