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Focus Equities and Paul First Nation submit proposal for 1,000 MW high-efficiency, gas-fired power plant to be developed just west of Edmonton
EDMONTON, Feb. 4, 2014 – Focus Equities Inc. and the Paul First Nation today announced that they have formally advised the Alberta Electric System Operator (AESO) of their intent to proceed with, and connect the proposed 1,000 MW Great Spirit Power Project to the Alberta grid. The new combined cycle, gas-fired power plant is proposed for the Paul First Nation’s industrial park, with construction of the facility to be completed in 2017.
The Paul First Nation and Focus Equities signed a Memorandum of Understanding in November 2013 to jointly develop this project on the Paul First Nation’s traditional territories. The partners are proceeding with their plan to permit, finance, construct, own and operate the proposed 1,000 MW high-efficiency, combined cycle plant, which will be fueled by clean burning natural gas.
Paul First Nation Chief Casey Bird stated, “As a Nation we are extremely pleased to join with our partner, Focus Equities, in the development of the Great Spirit Power Project. As a Nation that lives in the shadow of large, aging coal plants, we are proud to be a part of such an environmentally-friendly project that will provide social, health-related and economic benefits for our people, and other Treaty 6 Nations, at a time when Alberta First Nations are all striving for greater economic self-sufficiency and diversification, and real economic opportunity for participating First Nations.”
According to Jim Steele, Managing Director of Focus Equities, “The proposal provides for a highly efficient power plant, which will help meet Alberta’s growing energy needs with low cost power from clean-burning natural gas. Further, this innovative partnership is engineered to provide a meaningful ownership position for the Paul First Nation, a goal Chief Casey Bird and Council are to be commended for pursuing. We are proud to have the Paul First Nation as our primary partner on this venture and to be working closely together in advancing this project through the various development and regulatory approval phases.”
The Paul First Nation industrial park is located approximately 70 kilometers west of Edmonton, just south of the Yellowhead Highway near the hamlet of Duffield. The Nation’s traditional territories and historical and cultural presence encompass a large geographic area west of Edmonton.
Focus Equities is an Alberta-based company. Its affiliates have a long and successful history of large infrastructure projects in Alberta and elsewhere, including its ownership of the Aurum Energy Park, northeast of Edmonton. The key principals of Focus Equities have also developed billions of dollars of power projects worldwide.
For further information:
Ironhead First Nations Partnership: Shane Pospisil, Senior Principal, New West Opportunities Inc./ (780) 860-5100
Focus Equities: Terence de Pentheny O’Kelly, Vice President of Energy, Focus Equities Inc./ (303) 815-6615