A First Nation in northwest British Columbia has bought a stake in clean-energy operations worth more than $2.5-billion dollars.
The Tahltan First Nation says it purchased 5 per cent of three run-of-river hydro-electric projects located in its traditional territories, which include the communities of Iskut, Dease Lake and Telegraph Creek.
Tahltan Central Government President Chad Day says the deal is a historic economic achievement for the First Nation as it will generate revenue and provide clean energy for generations.
The Tahltan First Nation purchased its portion of Northwest British Columbia Hydro Electric Facilities for more than $124-million from Axium Infrastructure Canada and Manulife Financial Corp.
The power-generating facilities include run-of-the-river projects, Forrest Kerr, McLymont Creek and Volcano Creek, which produce electricity sold to BC Hydro, the province’s Crown-owned energy utility.
The Tahltan First Nation says in a statement its territory is home to three of B.C.’s 19 operating mines and represents about 25 per cent of current mining exploration activities.
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