The powerhouse of the Kwagis Power run-of-river hydro project looms over the Kokish River just below the Kokish River Bridge near Beaver Cove.

‘Namgis secure government backing for hydro project

Public-private partnership loan to help band build equity in Kokish run-of-river project.

A first-of-its kind loan agreement between the ‘Namgis First Nation and the Government of Canada will provide up to $12.94 million for development of the Kokish run-of-river hydroelectric project.

Minister of Finance Joe Oliver on Tuesday announced the Government of Canada’s support through a P3 Canada Fund preferential loan. This low-interest loan is the first P3 Canada Fund project with a First Nation, and will help the ‘Namgis First Nation to build equity in the 45-megawatt hydroelectric development located within ‘Namgis core territory. The infrastructure is producing electricity for sale to BC Hydro under a 40-year Electricity Purchase Agreement. A portion of the revenue generated each year will be directed into a ‘Namgis Community Benefit Fund.

“The Kokish River project embodies ‘Namgis values of respect for environment, culture and sound management,” said Debra Hanuse, ‘Namgis Chief. “Through the P3 Canada Fund loan, we were able to establish a partnership with a corporation that shares our values. This partnership will enable our Nation to share in the economic benefits derived from our ancestral lands.”

The project is owned and managed by Kwagis Power LP, a limited partnership of the ‘Namgis First Nation and Brookfield Renewable Power, with Brookfield responsible for design, construction, financing, operations and maintenance, and ‘Namgis a partner in decision making and monitoring.

By entering into this long-term partnership agreement, the First Nation has secured an active role and participation in a sustainable energy project in its ancestral lands, without undue risk to ‘Namgis. The First Nation has the ability to monitor and evaluate the private partner’s performance.

“This innovative P3 project will allow the ‘Namgis to generate both energy and revenue while safeguarding North Vancouver Island’s ecosystem,” said Joe Oliver, Minister of Finance. “It also means high-quality jobs will be available for people in the ‘Namgis community over the next 40 years.”

The $1.2-billion P3 Canada Fund is managed by PPP Canada, a Crown corporation responsible for advancing Canadian public-private partnerships (P3s) through the provision of expert advice and support to all levels of government.

 

Just Posted

OPINION: Ten signs that Port Alice has changed

“Right now, our lack of amenities is holding back economic growth in our village”

Striking Western Forest Products workers could lose benefits in September

Union, forest company at odds over Vancouver Island benefit payments as strike enters third month

Port McNeill council discusses ‘bear aware’ and what you can do to stay safe

Port McNeill’s Conservation Officer Brad Adams gave a presentation about being ‘bear aware’.

Port Hardy RCMP release tips to prevent fraud and theft from vehicles

In many of the incidents reported, “the vehicles that were broken into were unlocked.”

Stranded hikers rescued by helicopter on Mt. Schoen

Campbell River Search and Rescue used hoist operation to rescue trio

VIDEO: B.C. woman meets biological mother, 38 years later

Mother never gave up hope of finding daughter, despite all the obstacles

VIDEO: B.C. woman meets biological mother, 38 years later

Mother never gave up hope of finding daughter, despite all the obstacles

B.C. man who died after rescuing swimmer was known for helping others

Shaun Nugent described as a dad, a coach, a hero and ‘stand-up guy’ at celebration of life

B.C. RCMP plane chases fleeing helicopter as part of major cross-border drug bust

The helicopter eventually landed at a rural property near Chilliwack

Vancouver Island man dead after reported hit-and-run incident

Oceanside RCMP seek public’s help gathering information

Thousands cycle to conquer cancer

The 11th annual Ride to Conquer Cancer took place Saturday morning, Aug. 24 in Surrey, B.C.

PHOTOS: Brazil military begins operations to fight Amazon fires

Amazon fires have become a global issue, escalating tensions between Brazil and European countries

Racist confrontation in Richmond parking lot caught on camera

Woman can be heard yelling racial slurs, swear words at woman in apparent parking dispute

Groups ready campaign to help young voters identify ‘fake news’ in election

The media literacy campaign to focus on identifying misinformation and suspicious sources online

Most Read