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HomeNewsHay River NewsDenendeh Investments takes 50% stake in Northland Utilities

Denendeh Investments takes 50% stake in Northland Utilities

Denendeh Investments (DII) has increased its ownership in power company Northland Utilities to 50 per cent.

First Nations-owned DII previously heldĀ 14 per cent. Global utilities corporation ATCO, which has hadĀ a controlling interest in Northland since the early 1980s, controlsĀ the remaining 50 per cent.

Northland Utilities provides electricity retail, distribution,Ā transmission and generation services in the NWT.

DII claims toĀ represent 27 First Nations in the Northwest Territories and half of the territory’s Aboriginal population.

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“Increasing Dene ownership in Northland Utilities to become equal partners is the logical nextĀ step in a mutually-beneficial business partnership that has grown over three decades,” said Dene National Chief BillĀ Erasmus in a statement.

“We lookĀ forward to exploring the opportunity in having a Dene company serve all Dene communities.”

Read: History of Northland Utilities

Darrell Beaulieu, president of DII, called Northland a “shining example of how First Nations in the North can benefitĀ and grow from a meaningful business partnership”.

DII says more than a quarter of Northland’s employees are Aboriginal.

“Today, we celebrate becoming an equal owner in a company that we believe has an important role to play in the future in the Northwest Territories,” saidĀ Beaulieu.

In December last year, the Town of Hay River said it wouldĀ not renewĀ its agreement with Northland to distribute power. That agreement expires in 2016.

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