TORQUAY — DEEP Earth Energy Production Corp. (DEEP) and the Saskatchewan First Nations Natural Resource Centre of Excellence have signed a memorandum of understanding (MoU) to facilitate First Nations investment in DEEP’s geothermal power project and potential greenhouse development. The announcement was made March 5.
The agreement aims to advance sustainable energy solutions in Saskatchewan while creating economic opportunities for First Nations communities.
DEEP, a leader in geothermal energy, has spent more than a decade developing Canada’s first geothermal power facility, located in southeast Saskatchewan near Torquay. The Centre, which supports the economic development of Saskatchewan’s 74 First Nations, will help enable First Nations investment and participation in the project.
The partnership focuses on three key objectives: developing a financial framework to promote First Nations investment and business opportunities; facilitating access to resources and training; and integrating sustainable practices, including food security initiatives through greenhouse development.
DEEP will oversee investment and business opportunities while ensuring transparency and communication. The Centre will act as a liaison between First Nations and DEEP, supporting education, training and investment access. Both parties will collaborate on an investment strategy, monitor project progress, and work with funding sources to maximize benefits for First Nations investors.
The MoU marks a step toward reconciliation and economic empowerment, aligning with efforts to drive First Nations economic development through clean energy and sustainability.
DEEP is developing geothermal resources to meet increasing energy needs with sustainable, clean and renewable energy. The company is advancing its first planned ~30 MW geothermal power facility in southeastern Saskatchewan that will produce emissions-free baseload power. The first 5MW phase is planned for full commissioning by 2026. A staged build aims to increase the project to produce approximately 180 MW of renewable power generation.
For more information on DEEP, please visit DEEP’s website at www.deepcorp.ca.
