TC Energy Inks Deal to Sell Minority Stake to Indigenous Groups
TC Energy Corp. has announced a landmark $1 billion agreement that will allow 72 Indigenous communities to acquire a minority stake in its Nova Gas transmission system and Foothills pipeline assets.
Based in Calgary, TC Energy described the deal as the largest Indigenous equity ownership arrangement in Canada.
The agreement, supported by the Alberta Indigenous Opportunities Corporation, was brokered by a consortium of Indigenous communities from Alberta, British Columbia, and Saskatchewan.
As part of the deal, TC Energy will offer a $1 billion equity loan guarantee to support an Indigenous-owned investment partnership.
Once finalized, the communities will enter into definitive agreements to become co-investors in the 25,000-kilometre network of natural gas infrastructure.
The transaction is anticipated to be completed in the third quarter of this year, pending approval from band councils, settlement resolutions, and financing arrangements.
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