TC Energy's NGTL System compressor station and pipeline right-of-way near Nordegg, Alta. CALGARY, Alberta, July 30, 2024 (GLOBE NEWSWIRE) --  TC Energy Corporation ((TSX, NYSE:TRP) (TC Energy or the Company) is pleased to announce an equity interest purchase agreement (Agreement) with an Indigenous-owned investment partnership for a minority equity interest of 5.34 per cent in the NGTL System and the Foothills Pipeline assets (together, Partnership Assets) for a gross purchase price of $1 billion. The Agreement is backed by the Alberta Indigenous Opportunities Corporation (AIOC) and was negotiated by a consortium committee (Consortium) representing specific Indigenous Communities (Communities) across Alberta, British Columbia and Saskatchewan. This results in an implied enterprise value of approximately $1.65 billion, inclusive of the proportionate share of the Partnership Assets' collective debt. This historic partnership will enable up to 72 Indigenous Communities closest to the Partnership Assets to become equity owners in the 25,000-kilometre highly integrated network of natural gas infrastructure assets spanning western Canada. Investment in these critical energy assets delivers access to long-term revenue sources that will help create meaningful change for Indigenous Communities. "Indigenous ownership is the path to a more prosperous nation. As owners, Indigenous Communities will have resources to invest for the future and greater economic sovereignty. The Alberta Indigenous Opportunities Corporation is leading the world with its innovative approach to supporting Indigenous economic opportunity. TC Energy is proud to be a part of this historic agreement," said François Poirier, TC Energy's President and Chief Executive Officer. A leading Indigenous loan guarantee programThe Agreement will create a pathway for equity participation that builds upon TC Energy's long history of fostering positive and meaningful relationships with Indigenous peoples. Loan guarantees, such as the one presented by the AIOC, are instrumental in supporting inclusive participation in Canada's critical energy assets. The AIOC will provide the Communities with a $1 billion equity loan guarantee to support the newly-formed Indigenous-owned investment partnership. Once finalized, the Communities will enter into definitive agreements as co-investors in the Partnership Assets through the Indigenous-owned investment partnership. "In only four years, the Alberta Indigenous Opportunities Corporation has truly made an impact for Indigenous communities. This newest agreement builds on earlier successes and shows Canada and the world that energy partnerships with First Nations and Métis peoples are both desired and possible. I'm thrilled to celebrate this agreement and look forward to the next steps that will ensure more Indigenous communities are true partners in prosperity." Honourable Danielle Smith Premier of Alberta "Alberta continues to lead on economic reconciliation with Indigenous Peoples. It's so exciting to see this historic investment partnership come together thanks to an unprecedented loan guarantee from the AIOC. This will create significant new long-term revenue streams for the Indigenous Communities involved. The AIOC continues to break down barriers and build bridges by supporting Indigenous ownership and inclusion in Alberta's biggest projects. Many thanks to all the partners involved for working tirelessly to make this a reality."Honourable Rick WilsonMinister of Indigenous Relations, Government of Alberta "AIOC ...