The Onimiki mini-hydro project is an important economic development lever for our region, which is in great need of revitalizing and diversifying its economy.
The First Nations communities of Kebaowek and Wolf Lake, as well as the MRC of Témiscamingue, will together invest 15% of the required capital. This represents an equity investment of $28.5 million, $14.8 million from the First Nations and $14.8 million from the MRC of Temiscamingue.
Recognized financial institutions have already indicated their willingness to work with the partners to make the Onimiki project a success for the region. It is therefore expected that the remaining 85% of the project will be financed with a long-term loan.
Anticipated Net Revenues
Preliminary financial projections show that the incremental revenue share for the project’s community partners would be in the range of:
- Year 1: $1.880M in net revenues (annual), to be shared between the First Nations and the MRC
- Year 10: $3.483M in net revenues (annual), to be shared between the First Nations and the MRC