March 19, 2015 – Denendeh Investments Incorporated (DII) and ATCO signed a Memorandum of Understanding earlier this week to “more than triple” DII’s ownership in Northland Utilities to 50%.

DII, a First Nations-owned corporation, previously owned 14% of the company.

“Increased Indigenous investment in business in the north has been a priority for every level of government in this country, including the Government of the Northwest Territories,” said Darrell Beaulieu, Denendeh Investments Inc. president. “Northland Utilities has been a shining example of how First Nations in the north can benefit and grow from a meaningful business partnership with a premier corporation like ATCO.”

Northland Utilities is an electrical company that provides retail, distribution, transmission and generation services to over 11,000 customers in nine N.W.T. communities. The company says more than 25% of Northland Utilities employees are Indigenous and it has a number of programs in place to build capacity with Indigenous people, such as job shadowing, apprenticeship training and engineering roles.

“Building and sustaining Indigenous relationships is core to ATCO’s beliefs and values,” said Nancy Southern, ATCO’s CEO. “Our partnership of nearly three decades with Denendeh Investments Inc. is an excellent example of a true partnership: one that has stood the test of time—one of mutual respect and trust—one of value creation through the enterprise of our respective individual contributors. It is with a sense of tremendous honour and humility that I announce and welcome Denendeh Investments as an equal 50% owner in Northland Utilities, and we look forward to many more decades of mutual goodwill and good commerce.”

DII represents 27 Dene First Nations and 50% of the Indigenous population in the Northwest Territories. The company was created to hold for-profit investments made collectively by the Dene First Nations on behalf of the people of Denendeh.