Powering Indigenous Prosperity: A Journey in Project Development
Wendy Hennel, MBA, CPA, CGA
CFO at FNpower
In the ninth episode of Energy Radio’s second season, the spotlight is on project development within the context of decarbonization efforts. The guest of honor is Wendy Hennel, the CFO of First Nation Power Development. As a platform dedicated to exploring and discussing transformative projects, Energy Radio welcomes Wendy to delve into her journey, background, and the crucial role she plays in advancing renewable energy projects in Indigenous communities across Canada.
Embarking on a Unique Path:
Wendy Hennel begins by sharing her unconventional journey, highlighting her diverse educational and professional experiences. Having started with an English degree, Wendy worked her way through various roles, including the Treasury Department at a well-known retail store. She later obtained her CPA and transitioned into nonprofit work, focusing on climate change and housing initiatives. Tragedy struck her family when her husband passed away, prompting Wendy to pursue an Executive MBA. It was during this time that she connected with Firm and Latimer, the CEO of First Nation Power Development, setting the stage for her current role.
Founding First Nation Power Development:
First Nation Power Development is a relatively young organization with a mission to facilitate Indigenous nations’ equity ownership in renewable energy projects. The goal is to leverage opportunities stemming from truth and reconciliation, empowering Indigenous communities with economic sovereignty. Wendy emphasizes the importance of understanding each nation’s unique structure, readiness, and motivations for engaging in renewable energy projects.
Navigating Partnerships and Finance:
Wendy sheds light on the intricacies of project financing for Indigenous communities, which often involves a diverse range of partners. The financing journey typically begins with grants for due diligence, followed by partnerships with agencies like Alberta Indigenous Opportunities Corporation and the Canada Infrastructure Bank. These organizations offer support, guarantees, and funding to backstop loans, helping Indigenous communities to develop renewable energy projects that may not initially meet traditional lending criteria.
Unlocking Economic Sovereignty:
The heart of First Nation Power Development’s work lies in bolstering Indigenous communities’ balance sheets. By strategically building assets and securing long-term cash flow from renewable energy projects, these communities can achieve economic sovereignty. This approach empowers them to make informed decisions, address pressing needs, and thrive independently.
Wendy Hennel’s story exemplifies the power of determination and collaboration in achieving meaningful change. Through her role at First Nation Power Development, Wendy is helping Indigenous communities unlock economic potential, drive decarbonization efforts, and create a brighter future for generations to come. As the journey continues, the partnership between Indigenous communities and renewable energy projects stands as a beacon of hope for a more sustainable and equitable world.
For more information please visit www.fnpower.ca