Montem signs agreement with Piikani Nation for renewable energy complex in Alberta

Montem Resources (ASX: MR1), Alberta’s leading renewable energy and steelmaking coal development company, has entered into a framework agreement with the Piikani Nation that […]
The Tent Mountain renewable energy complex (TM-REX) is located near Crowsnest Pass of southwest Alberta. Credit: Montem Resources:

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Montem Resources (ASX: MR1), Alberta's leading renewable energy and steelmaking coal development company, has entered into a framework agreement with the Piikani Nation that would allow parties to build a long-term co-operative and mutually beneficial relationship, specifically with regards to Montem's proposed Tent Mountain renewable energy complex (TM-REX).

Tent Mountain is located in the Crowsnest Pass of southwest Alberta, within the traditional territory of the Piikani. The framework agreement acknowledges that Piikani holds certain aboriginal and treaty rights over the project area. The agreement reflects Piikani's interest in the TM-REX, which aims to create jobs and economic development opportunities for Piikani within their traditional territory. The agreement also focuses on the pumped hydro energy storage (PHES) element of the TM-REX, creating a framework for co-operation in relation to review of the development concept of the PHES.

"The signing of an agreement with the Piikani Nation is a major milestone for Montem," said CEO Peter Doyle. "We are excited by the opportunity to develop a meaningful partnership with the Nation that will deliver mutual benefits. Piikani will add value to our developments within the Piikani traditional territory. For Montem, it represents our first significant agreement with an Indigenous group, and we couldn't be more pleased than to have an agreement with the Piikani Nation." 

The agreement was finalized at the annual Blackfoot Confederacy Calgary Stampede BBQ, with Doyle and Piikani Nation's COO Corbin Provost signing the agreement. The Honourable Rick Wilson, Minister of Indigenous Relations, Government of Alberta, and the Honourable Whitney Issik, Minister of Environment and Parks, Government of Alberta, witnessed the signing of the agreement.

Montem is currently investigating converting the historical Tent Mountain coal mine into a renewable energy complex. The TM-REX represents a transformational clean energy project that aims to create partnership opportunities with the Piikani Nation, whose community is located near the project.

The TM-REX leverage Montem’s existing assets at Tent Mountain, which include large water reservoirs on land owned by the company, left behind from historical mining operations, and easy access to infrastructure, including rail, high voltage power lines, gas pipelines, and the interprovincial Highway 3.

The planned TM-REX development includes three primary elements; a 320-MW/2,560-MWh PHES, 100 MW green hydrogen electrolyzer and a 100-MW offsite wind farm. The clean energy project is expected to create more than 400 high-quality jobs in the region.

For more information, visit montem-resources.com.

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