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Rose Valley Wind

Sector
Clean Energy, Indigenous Infrastructure
Region
Rural Municipality of Excel (near Assiniboia), Saskatchewan
Investment
$164.4 million
(Financial close)
Partner(s)
Potentia Renewables Inc., M-Squared Renewables, SaskPower
Public impact(s)
Estimated ~298,000 tCO₂e avoided annually

Indigenous-owned wind power in Saskatchewan

Majority Indigenous ownership delivering clean energy, economic and community benefits

Fast facts

28 wind turbines will deliver up to 210 MW of energy
M‑Squared Renewables’ majority ownership supports 10 participating First Nations
Will reduce energy emissions by approximately 298,000 t per year

The CIB has reached financial close with Potentia Renewables Inc. and M-Squared Renewables on a $128 million project loan and a $36.4 million Indigenous equity loan.

Located in the Rural Municipality of Excel No. 71 near Assiniboia, Saskatchewan, the project includes 28 wind turbines, supporting up to a 210 MW power purchase agreement with SaskPower. The development also includes new and upgraded access roads, underground cabling, a new substation and supporting infrastructure.

Through M-Squared Renewables, an Indigenous development corporation owned by the nine Nations of the Meadow Lake Tribal Council partnership and Mistawasis Nêhiyawak First Nation, the project is expected to support priorities such as housing, elder facilities, youth programming and other social and community infrastructure.

Public lender(s): Canada Infrastructure Bank

Private lender(s): Potentia Renewables, M-Squared Renewables, Desjardins Group, KfW IPEX-Bank

Benefits of the CIB’s involvement

The CIB’s loan helps address higher upfront capital costs associated with renewable generation, helping to minimize potential ratepayer impacts.

The wind facility is expected to create contracting, capacity building and employment opportunities for participating First Nations during construction, supporting Indigenous economic participation and reconciliation.

Selected through SaskPower’s 2024 Request for Proposals for new wind generation, the facility delivers wind energy while supporting Indigenous economic participation and reconciliation.

Learn more

Disclaimer: The Canada Infrastructure Bank (CIB) in its sole and absolute discretion may choose to make available amendments, revisions, modifications, or replacements to this website. This page will remain open for further revision, modification, replacement or cancellation by the CIB at any time and in no event shall the CIB be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on the content of this website. Images courtesy of Potentia Renewables Inc. 

Wind turbines across a flat agricultural landscape, with green and brown fields divided by a dirt road under a bright blue sky.
Wind turbine under construction at night, illuminated by cranes and lights, with the northern lights visible in the sky above.
Close-up of a construction worker wearing a blue hard hat labeled “Potentia” and safety glasses.
Potentia Renewables

Closing the financing of the Rose Valley Wind project is an important milestone for Potentia and reflects the continued momentum of renewable energy development in Saskatchewan. This project brings together experienced financial partners and strong collaboration to deliver reliable, low-cost power while supporting long-term economic benefits for local communities.

Ben Greenhouse, Chief Executive Officer
Meadow Lake Tribal Council

The Meadow Lake Tribal Council (MLTC), through its partnership in M2 Renewables, is proud to participate in the development of a 200 MW wind energy project in Saskatchewan. This project will provide clean, renewable power while providing long-term economic benefits for the nine nations of MLTC. Through our partnerships, we are helping build Saskatchewan’s energy future while advancing indigenous ownership, economic reconciliation, and self determination.

Tribal Chief Jeremy Norman
Mistawasis Nêhiyawak

In conjunction with the CIB and other lending partners, projects of this size depend on strong communication and collaboration. We congratulate SaskPower, Potentia, the MLTC Nations and Misty Ventures on building a positive relationship through a successful procurement process. This project demonstrates how continued teamwork can help advance truth and reconciliation.

First Nation Chief Daryl Watson
Power Sustainable Energy Infrastructure Partnership

Financing is often the key enabler of energy infrastructure development. Rose Valley Wind brings together a strong consortium of partners and a capital structure designed to support efficient project delivery. We are pleased to contribute to a project that expands Saskatchewan’s renewable energy capacity while demonstrating how private and public capital can work together to advance critical infrastructure.

Pierre-Olivier Perras, Managing Partner
SaskPower

SaskPower is using all tools at our disposal to ensure reliable and affordable power for our customers, while also supporting our growing economy and communities. Rose Valley will strengthen our diverse grid by supplying low-cost electricity for decades to come.

Rupen Pandya, President and Chief Executive Officer

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