Northland Utilities Equal Partnership Announcement
Partners for the past 35 years, Denendeh Investments Incorporated (DII) and ATCO Ltd. have recently completed an agreement to increase DII’s ownership stake in Northland Utilities from 14 to 50 per cent.
DII, which represents 27 Dene First Nations, first partnered with ATCO in 1987, acquiring a 14 per cent ownership stake in Northland Utilities over time. This was ATCO's first partnership with an Indigenous organization, setting the standard for ATCO moving forward. Since that time, building and sustaining relationships with Indigenous partners has become a hallmark of how ATCO does business.
Representatives from both partners met in Yellowknife to celebrate the equal 50/50 partnership of the company and the desire to share in the economic benefits and developments in the communities we serve.
"ATCO is an industry leader with extensive power development expertise and is implementing capacity for Indigenous business interests. Northland Utilities has been a shining example of how we can grow with a true business partnership."
- Darrell Beaulieu, CEO of DII
Currently, ATCO has more than 50 joint-venture partnerships, memorandums of understanding and other partnerships with Indigenous communities that generate millions of dollars annually for these communities. ATCO continues to advance new, collaborative models for partnerships with Indigenous Peoples around the world, in the spirit of Canada's Truth and Reconciliation Commission's Calls to Action and the United Nations Declaration on the Rights of Indigenous Peoples.
"The journey towards Reconciliation starts with a single step forward. We began our journey with DII decades ago, and our partnership has stood the test of time. This agreement has been years in the making, and I am incredibly honoured to welcome DII as an equal shareholder in Northland Utilities, and hope that in leading by example, we will inspire a new standard for governments and industry that supports economic reconciliation, inclusive opportunity, and truly equitable partnerships for Indigenous communities."
- Nancy Southern, Chair & Chief Executive Officer, ATCO.
