08:01 AM EDT, 06/24/2024 (MT Newswires) -- Enbridge ( ENB ) said on Monday that it teamed up with Six Nations Energy Development, a newly created consortium of First Nations, to develop the 200-megawatt Seven Stars wind energy project in Saskatchewan.

Enbridge ( ENB ) said the project will be able to support the annual energy needs of over 100,000 homes. Operations are expected to start in 2027 while a final investment decision is anticipated in 2025.

According to Enbridge ( ENB ), financial participation of the partners will be partially supported by loan guarantees of up to $100 million from the Saskatchewan Indigenous Investment Finance. The First Nations and Metis partners can acquire at least 30% of the project.

"This is Enbridge's ( ENB ) first Indigenous partnership focused on wind energy generation and our first Indigenous partnership in Saskatchewan," said Matthew Akman, Enbridge's ( ENB ) executive vice president for corporate strategy and president for power. "The clean electricity Enbridge ( ENB ) and our Indigenous partners will provide will help meet the demand for safe, reliable and affordable energy for residential, small business and industrial use well into the future."

Six Nations Energy includes the Cowessess First Nation, George Gordon First Nation, Kahkewistahaw First Nation, Metis Nation-Saskatchewan, Pasqua First Nation and White Bear First Nations.

Enbridge's ( ENB ) share price closed at nearly $48 last Friday.