Stonebridge Financial receives Indigenous Allyship Award from First Nations Power Authority

Jul 17, 2024

An early pioneer in financing renewable energy projects with Indigenous economic ownership, Stonebridge has provided institutional investors access to this growing sector since 2012

TORONTO – Stonebridge Financial (Stonebridge), a leading Canadian financial institution and investment management firm specializing in private debt solutions, is pleased to announce it has been honoured with the prestigious Indigenous Allyship Award presented by the First Nations Power Authority (FNPA) at its 8th Annual Indigenous Cleaner Energy Forum & Awards Gala held in Saskatoon, Saskatchewan. The award celebrates institutions that have demonstrated a commitment to supporting Indigenous peoples and communities through allyship, stewardship and reconciliation in the context of energy.

Over the past 12 years, Stonebridge has arranged and provided financing for two dozen infrastructure projects, delivering economic and social benefits to more than 40 Indigenous groups across Canada. Loans totalling $750 million have funded the construction and operation of projects with a combined nameplate capacity of approximately 1.2 million megawatt-hours of renewable energy annually. These projects provide stable, long-term cash flows to be reinvested back into Indigenous communities.

“First Nations Power Authority is pleased to recognize Stonebridge Financial with this award for their contributions to Indigenous allyship. Their financing efforts have helped empower Indigenous communities with ownership in clean, reliable and low-carbon energy solutions, paving the way for a brighter and more resilient future for our people and the planet,” said Guy Lonechild, President & CEO of FNPA.

A firm of firsts, Stonebridge launched Canada’s first infrastructure debt fund in 2012 (Stonebridge Infrastructure Debt Fund I or SIDF I) with over $200 million in institutional investor commitments, followed by its second fund in 2014 (SIDF II), which has grown to be 300% larger at nearly $600 million. Stonebridge’s first fund allocated 40% of its loan commitments to renewable power projects with Indigenous ownership. The second fund, which is three times larger than the first, allocated 36% of its commitments to such projects.

Notably, the first loan within SIDF I was for the Alderville Solar Farm in Ontario, making Stonebridge the first lender in Canada to finance the first renewable power project to be 100% owned by an Indigenous group. This award-winning project has been highlighted as a model case study in Indigenous economic independence, social benefit and community pride, setting a precedent for Indigenous ownership in the industry.

Stonebridge funds have provided vehicles for institutional investors to diversify their investment portfolios while participating in the private debt market accessing high quality, stable cash flow investments secured by various types of Canadian social and sustainable infrastructure projects. These funds have helped “crowd-in” private capital enabling Stonebridge investors — including insurance companies, pension funds, government agencies, municipalities, universities, foundations — the ability to assist with funding the development of new infrastructure projects across Canada that they may not be able to gain exposure to otherwise.

“I would like to thank the efforts and contributions of both our team at Stonebridge as well as our many stakeholders – borrowers, investors and consultants – for being early adopters and ongoing promoters of the clean energy industry in partnership with dozens of Indigenous communities across Canada,” said Daniel Simunac, Co-CEO of Stonebridge Financial. “As a member of the FNPA, we look forward to further engaging with its members on financing additional infrastructure projects and continue to advance such Indigenous partnerships in creating more clean energy towards Canada’s sustainability goals”.

As Stonebridge celebrates its 25th anniversary, it is set to launch its third infrastructure debt fund, Stonebridge Infrastructure Debt Fund III (SIDF III), targeting $1 billion in commitments. This new fund will continue supporting projects with Indigenous ownership, among others. This builds on the success of firm’s previous strategies and reinforces Stonebridge as a leading lender to social infrastructure and sustainable energy projects.

For media inquiries, contact: Daniel Simunac, Co-CEO, Stonebridge Financial, Info@Stonebridge.ca, 416-364-3001

NT5