Anpetu Wi Wind Project set to power approximately 100,000 homes
FORT YATES, North Dakota – Today, U.S. Treasurer Chief Lynn Malerba, accompanied by Neil MacBride, the General Counsel of the U.S. Department of the Treasury, and other senior Treasury officials, paid a visit to the Standing Rock Sioux Tribe in Fort Yates, North Dakota.
Chief Malerba and General Counsel MacBride, alongside representatives from the Standing Rock Sioux Tribe including Chairwoman Janet Alkire, and SAGE Development Authority, a Section 17 corporation operating as the Tribe’s public power authority under the Indian Reorganization Act of 1934, toured various significant clean energy projects in the region. During the visit, they also discussed the Anpetu Wi Wind Project, a 235 MW initiative by SAGE that aims to generate enough energy to sustain around 100,000 households.
Later in the day, Chief Malerba and General Counsel MacBride participated in a roundtable discussion on the Inflation Reduction Act (IRA). This legislation represents a substantial investment in the American economy and is regarded as one of the most crucial measures against climate change in U.S. history. As the primary agency responsible for implementing the IRA, the Treasury Department is actively engaged in outreach and education activities to bolster Tribal Energy projects.
The IRA was designed to encourage investments in clean technology within typically underserved regions away from the coasts. For the Standing Rock Sioux Tribe, the IRA presents an opportunity to address historical challenges of unemployment and poverty on the reservation, where more than half of the population remains jobless, and 40 percent of families live below the poverty threshold.
Furthermore, the IRA initiated a new credit delivery mechanism called elective pay, enabling tax-exempt entities such as non-profits and Tribal governments to access clean energy tax credits for the first time. This expansion of tax credit benefits aims to accelerate project development, create employment opportunities, and reduce energy costs. Prior to the IRA, Tribal governments were unable to fully leverage tax credits that incentivize clean energy initiatives.
Chief Malerba and General Counsel MacBride also announced that the Standing Rock Sioux Tribe has been approved for up to $3,576,734 in funding through the State Small Business Credit Initiative (SSBCI) Capital Program. The Tribe plans to utilize these funds for a single loan participation program to provide critical credit support for Tribal member-owned businesses, particularly in sectors such as food production, livestock, and agriculture.
The Standing Rock Sioux Tribe anticipates that these programs will foster the growth of small businesses on the reservation, create more economic opportunities for Tribal members, promote entrepreneurship, and contribute to reducing the poverty rate within the Tribe. Chief Malerba remains committed to supporting and engaging with Tribal nations across the country.
