DEEP and First Nations partner for geothermal development in Saskatchewan
DEEP has signed an MoU with the Saskatchewan First Nations Natural Resource Centre of Excellence, setting a framework for investment in the geothermal project.
Last week, Canadian geothermal developer DEEP Earth Energy Production Corp. (DEEP) and the Saskatchewan First Nations Natural Resource Centre of Excellence (The Centre) announced the signing of a Memorandum of Understanding (MoU) that establishes a framework for First Nations investment in DEEP’s geothermal power project and potential greenhouse development.
The Centre, which supports economic development for Saskatchewan’s 74 First Nations, will work alongside DEEP to facilitate investment and participation in the project.
The key goals for the partnership are:
- Financial Framework: The agreement sets the stage for First Nations investment in the geothermal project, including potential business ventures such as commercial greenhouses.
- Investment Support: DEEP and The Centre will provide training, resources, and assistance in creating investment structures tailored to First Nations’ needs.
- Sustainable Growth: The collaboration emphasizes environmental responsibility and explores opportunities in food security through greenhouse development.
Under the agreement, DEEP will identify investment opportunities and maintain transparency in communication, while the Centre will act as a bridge between First Nations communities and DEEP, offering education and training support.
Both parties will develop an investment strategy, track progress, and work with funding sources to maximize benefits.
A Step toward economic empowerment
“This MoU represents an important step toward reconciliation and economic empowerment for First Nations communities,” said Kirsten Marcia, President & CEO of DEEP. “Through this collaboration, we are creating opportunities for First Nations to participate in and benefit from the development of renewable energy and sustainable business ventures.”
Sheldon Wuttunee, President & CEO of The Centre, added, “This partnership aligns with our mission to drive economic development for First Nations in Saskatchewan. By working together, we can unlock new opportunities in clean energy and sustainability that will benefit our communities for generations.”
With this partnership, DEEP’s geothermal project not only advances Canada’s renewable energy landscape but also ensures long-term economic growth and sustainability for First Nations communities.
We previously reported on the agreement between DEEP and SLB on the development of the 30 MW project.
Source: company release
