Tax break spurs development for Seven Generations Energy

An Alberta energy company approved for a provincial capital investment tax credit expects it will create an economic ripple effect for the region.

  • Alberta wants to kickstart investment with tax credits
  • Province earmarks $75M for capital investment tax credit

Seven Generations Energy is one of 18 groups approved by the province for a tax break of up to 10 per cent on new machinery, equipment and buildings.

The company received the maximum $5-million credit and is now building a new gas processing facility in the Kakwa River area.

Spokesperson Alan Boras said construction will be completed by the end of 2018, creating scores of new jobs in the northwestern Alberta region.

“We’ve been on a strong growth plan and we’re continuing on that growth plan,” Boras said.

“This is an important infrastructure piece, this processing plant, which will help us process natural gas and the liquids that we produce and send them to market across North America.”

The company’s Kakwa River Project is a natural gas property that covers more than 500,000 acres.

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