$715M Deal Includes First Loan Guarantee Under Federal Indigenous Loan Guarantee Program
CHILLIWACK, B.C. – In a landmark move advancing Indigenous economic reconciliation in Canada, Stonlasec8 Indigenous Alliance Limited Partnership—representing 36 First Nations across British Columbia—has announced a major equity investment in Enbridge Inc.’s Westcoast natural gas pipeline system.
Through a wholly-owned subsidiary, Stonlasec8 will invest approximately $715 million to acquire a 12.5% stake in the Westcoast pipeline, which has operated across Indigenous traditional territories for over six decades. The agreement is expected to close in the second quarter of 2025, pending financing and regulatory approvals.
This transaction marks the first to be backed by a loan guarantee from the newly created Canada Indigenous Loan Guarantee Corporation (CILGC), a subsidiary of Canada Development Investment Corporation (CDEV). The $400 million loan guarantee is the inaugural deal under the Canadian Indigenous Loan Guarantee Program, unveiled by the federal government in 2024.
A Model for Indigenous Economic Sovereignty and Reconciliation
“This deal represents a generational shift in how our Nations participate in the energy economy,” said Chief David Jimmie, President of Stonlasec8 and Chief of Squiala First Nation. “It ensures our communities will see long-term economic benefits, while strengthening our role in stewardship of the lands where these assets operate.”
Leaders say the equity stake will deliver critical funding for housing, infrastructure, environmental programs, and cultural initiatives, addressing pressing community priorities.
Enbridge, Federal Government Applaud the Partnership
“This transaction strengthens our relationships with Indigenous communities and is a tangible step toward advancing reconciliation,” said Cynthia Hansen, Enbridge Executive Vice President.
Federal officials also hailed the deal as a flagship example of the new government’s proactive approach to Indigenous economic partnerships.
“This is a textbook case of how Indigenous leadership and Canadian industry can work together to drive shared prosperity,” said Tim Hodgson, Minister of Energy and Natural Resources.
Relevance to Northwestern Ontario and Thunder Bay
While the Westcoast pipeline operates exclusively in British Columbia, this historic transaction sets a precedent for similar Indigenous equity ownership models in energy infrastructure across Canada, including Northern Ontario.
The deal underscores growing momentum for First Nations equity participation in energy, mining, and infrastructure projects—sectors critical to the economies of Northwestern Ontario and the Thunder Bay region.
Local leaders and economic development organizations in the North are closely watching these developments as potential models for resource revenue-sharing, capacity building, and economic self-determination in Treaty 9 and Treaty 3 territories.
