March 11, 2020
Limited Partnership Provides Valuable New Revenue for Kainai-Blood Tribe
CALGARY, ALBERTA (Globe Newswire – March 11, 2020) – A recently formed limited partnership between the Kainai-Blood Tribe and AltaLink delivers a valuable new revenue stream for the First Nation and highlights how relationships built on collaboration can result in a mutually beneficial solution for all parties.
“I am pleased that this partnership has finally come to fruition. It has been a lengthy process and I would like to thank previous Kainai leadership for their role in setting the groundwork for this to happen. I would also like to thank AltaLink for all their efforts in making this a reality,” Councilor Tim Tailfeathers said. “I am looking forward to Kainai fully participating in the economy of Alberta. I hope that the future brings many more partnerships that will result in stronger relationships between the Blood Tribe and Alberta.”
During consultation for the Southwest 240 kV project, AltaLink worked closely with the Kainai-Blood Tribe to reach an agreement that allowed the new transmission line to cross First Nation land.
“This agreement is a testament to how collaboration can lead to mutually beneficial results for everyone,” said Scott Thon, President and CEO of AltaLink. “Not only were we able to save millions of dollars for Alberta electricity customers by building a much shorter line, the Kainai-Blood Tribe is provided with the opportunity to create a reliable and consistent financial investment for their people.”
An application from AltaLink and Kainai-Blood Tribe for the new limited partnership – KainaiLink – was approved by the Alberta Utilities Commission (AUC) on November 13, 2018. On January 1, 2020, the Kainai-Blood Tribe exercised its option to invest 51 per cent of the common equity portion of the transmission line and earn a regulated rate of return. The limited partnership officially came in to effect this year.
Under an operating agreement, AltaLink will continue to maintain the transmission line over the life of the project.
About the Blood Tribe
The Kainai Nation is a proud member of the Blackfoot Confederacy (Siksikaitsitapi) which consists of Piikani, Siksika and Amskapi Piikani. The Kainai since time immemorial held on strong to its culture, traditions and language. The Declaration of the Elders now known as Kainayssini (Kainai way of life) which was ratified by Kainai members in 1988. The Elders recognize that the Kainai Nation has always had control over its lands and over its religious, political, economic and cultural destinies; including the right to establish laws and exercise jurisdiction over our territories and resources without interference.
Headquartered in Calgary, with offices in Edmonton, Red Deer and Lethbridge, AltaLink is Alberta's largest electricity transmission provider. AltaLink is partnering with its customers to provide innovative solutions to meet the province’s demand for reliable and affordable energy. A wholly-owned subsidiary of Berkshire Hathaway Energy, AltaLink is part of a global group of companies delivering energy services to customers worldwide.
FOR MORE INFORMATION PLEASE CONTACT:
Economic Development Director
Vice President, External Engagement
AltaLink Management Ltd.