Enbridge (ENB) announced an agreement whereby the Stonlasec8 Indigenous Alliance Limited Partnership, the “First Nations Partnership,” which currently represents 36 First Nations in B.C., will make an investment of approximately C$715M in Enbridge’s Westcoast natural gas pipeline system, resulting in the First Nations Partnership owning a 12.5% interest in that system, subject to certain closing conditions as well as customary closing adjustments. The First Nations Partnership has reached an agreement with Canada Indigenous Loan Guarantee Corporation, a subsidiary of Canada Development Investment Corporation, to secure a C$400M loan guarantee to enable the transaction. Loan guarantees play an important role in advancing Indigenous involvement in essential energy infrastructure throughout Canada.
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