Investments
Mikisew fosters the responsible development of our land’s resources while powering sustainable economic progress in our communities and beyond. Take a look at some of our recent investments below.
Three Nations Energy Project
Three Nations Energy (3NE) is an equal partnership between the Mikisew Cree First Nation, the Athabasca Chipewyan First Nation and Fort Chipewyan Métis Local 125. It owns and operates a 2.2-megawatt solar farm in Fort Chipewyan.
Once Phase 2 is completed, the project will offset 800,000 litres of diesel that ATCO uses annually. It will also supply green electrons for a quarter of the community’s electricity each year. A $7.8 million investment — $4.5 million from the Government of Canada and $3.3 million from the Government of Alberta — will give 3NE 100% ownership of Canada’s largest off-grid solar project.
3NE showcases our community’s shared vision of achieving energy sovereignty and becoming a leader in creating a climate-friendly economy. We work as one to build capacity and implement other projects in energy efficiency and green energy.
40 new jobs during construction period
Reduced diesel consumption of about 650,000 litres per year
About 25 fewer tanker truck trips required per year, each way
Thebacha
In 2017, Mikisew and Fort McKay First Nation joined forces to buy 49% of Suncor’s East Tank Farm development, resulting in the largest and most significant business transaction in Aboriginal history.
Handling production from Suncor’s Fort Hills Oil Sands mining project, the East Tank Farm includes bitumen storage, blending and cooling facilities, and connectivity to third-party pipelines.
Economic benefits from this partnership will enhance infrastructure development, social programs, education and training in all Mikisew communities for generations to come.
Athabasca Indigenous Investments
Mikisew Cree First Nation, in partnership with 22 other First Nation and Métis communities, has acquired an 11.57% collective non-operating interest in seven Enbridge-operated pipelines in northern Alberta, for $1.12 billion. The seven pipelines involved in the deal move almost half of all the crude oil from Northern Alberta’s oil sands.
The newly created corporate entity, Athabasca Indigenous Investments (Aii), will steward the investment, representing the 23 Indigenous and Métis communities involved in the deal.
Pipelines included in the transaction are the Athabasca, Wood Buffalo/Athabasca Twin and associated tanks; Norlite Diluent; Waupisoo; Wood Buffalo; Woodland; and the Woodland extension. These assets are underpinned by long-life resources and long-term contracts, which provide highly predictable cash flows.
Alberta PowerLine (APL)
In the fall of 2019, Mikisew Group acquired a 5.811% interest in Alberta PowerLine (APL). This investment was part of an opportunity for Indigenous communities along the Fort McMurray West 500-kV Transmission Project Line to collectively acquire up to 40% of the asset. In total, seven Indigenous communities participated in the opportunity.
This deal marks a major diversification of Mikisew Group’s traditional investments. It allows us to be part of a low-risk project on traditional territory that will provide a steady stream of cash flow for the next 35 years.
Microtel Wyndham Fort McMurray
This property, run by Wyndham Hotels and Resorts, services Fort McMurray’s bustling industrial travel sector. It is a modern facility with 142 rooms, a full complement of amenities and easy access to the Fort McMurray airport.
Marriott Fort McMurray
Mikisew was a key player in bringing the iconic Marriott brand to the area following the 2016 wildfires. With 95 apartments over four floors, the hotel caters to both short- and long-term stays.