Indigenous Partnerships and Prosperity 

Alberta Indigenous Opportunities Corporation (AIOC) creates opportunities for Indigenous investment in major natural resources, agriculture, telecommunications and transportation projects. 

BACKGROUND 

Alberta is abundant in natural resources and this creates opportunities for stakeholders to participate and benefit from responsible, sustainable development. Alberta Indigenous Opportunities Corporation (AIOC) was established in 2019 to enable Indigenous groups seeking commercial partnerships for major projects and to bolster the financial capacity of this community. Under existing legislation, AIOC is able to provide loan guarantees to unlock capital for Indigenous groups to invest in natural resources, agriculture, telecommunications and transportation projects. 

AIOC is a Crown corporation which operates at arm’s length from—but collaborates with—the Government of Alberta. AIOC’s mandate and role was developed by the Minister of Indigenous Relations and AIOC, according to the Alberta Public Agencies Governance Act (APAGA). An independent board of directors provides oversight and acts independently of AIOC management. 

To learn more about the Jurisdictional ESG Framework visit: alberta.ca/ESG 

STRATEGIC PRIORITIES 

AIOC has three strategic priorities: 

01. LOAN GUARANTEES 

AIOC is authorized to provide up to $1 billion worth of loan guarantees to Indigenous communities to secure competitive commercial financing in mid-to large-scale investments across a number of different industries. Loan guarantees provide an opportunity for Indigenous communities to become meaningful partners and participants in Alberta’s economy. 

Recent projects include: 

• Cascade Power Project: 

Six First Nations invested $93 million into a greenfield natural gas-fired power generating facility (August 2020). • Lindberg: One First Nation invested $25 million into a cogeneration facility (April 2021). 

• Athabasca Indigenous Investments: 

Twenty-three First Nations, Metis Settlements and Metis Locals invested a total of $1.1 billion (including a $250 million loan guarantee) into seven pipelines in partnership with Enbridge Inc. (September 2022).  

02. CAPACITY BUILDING AIOC also offers discretionary funds to assist Indigenous communities in accessing professional support on major project opportunities. This includes, but is not limited to, practical legal, financial and economic advice.

03. ENGAGEMENT AND PATHFINDING 

AIOC works as a pathfinder to influence the economic ecosystem, to foster partnerships with shared value and to marshal the project opportunities pipeline. The corporation establishes and maintains communications and outreach with Indigenous communities, including their elected leaders, Elders, business leaders and members, as well as Indigenous organizations and industry members. 

AIOC PROJECT HIGHLIGHTS 

MAJOR INDIGENOUS MIDSTREAM PARTNERSHIP 

In September 2022, AIOC enabled twenty-three Indigenous and Metis nations to purchase an 11.57% working interest in seven major pipelines in the Athabasca Oil Sands region. This deal with Enbridge Inc., worth approximately $1.12 billion, is the largest Indigenous energy partnership in North America and is an example of a multi-generational project that will drive Indigenous prosperity for years to come. Pipe-lines provide a steady, long-term revenue stream, affording these communities the opportunity for reinvestment and to pursue additional profit-generating ventures.

 NORTHERN COURIER PIPELINE SYSTEM 

In 2021, AIOC enabled the Tahspiy Limited partnership, with participation from eight Indigenous communities, to acquire a 15% stake in the Northern Courier Pipeline system in cooperation with Suncor Energy. A $40 million loan guarantee and a capacity grant to ensure adequate funding for needed financial and advisory services, and legal counsel, supported the project. 

Indigenous Partnerships and Prosperity I ESG Secretariat Fact Sheet

©2023 Government of Alberta I April 2023