The Onimiki project of hydroelectric mini-power plants is an important economic lever of development for our region. It addresses the need to rejuvenate and diversify our economy.
The First Nations communities of Kebaowek, Wolf Lake, as well as the MRC of Témiscamingue, will combined invest 15% of the required capital. It represents an investment of $28.5 million in equity – $14.8 millions for the First Nations, and $14.8 millions for the MRC of Témiscamingue.
Recognized financial institutions have already expressed their willingness to work with the partners to make the Onimiki project a success for the region. The goal is to finance the remaining portion of the project, 85%, with a long-term loan.
Anticipated net incomes
The preliminary financial projections demonstrate that additional income returning to the community partners would be as follows:
- Year 1: $1.880 M in net incomes (annual), to be shared between the First Nations and the MRC
- Year 10: $3.483 M in net incomes (annual), to be shared between the First Nations and the MRC