The development of the Onimiki project as a 100% community-based initiative offers several advantages for the project’s partner communities. This would give them access to significant new sources of revenue for the community, as well as allowing them to be involved in the development of the project.
Preliminary estimates predict net cash flow after debt repayment of $125 million over 10 years. This cash flow will increase year after year for 40 years, which is the target duration of the contract to be negotiated between Hydro-Québec and Onimiki Renewable Energy.
The community partners, namely Kebaowek First Nation, Wolf Lake First Nation, the MRC de Témiscamingue and the Pekuakamiulnuatsh First Nation (Innus of Lac-Saint-Jean), would share these funds equally. They could use them as long-term leverage to carry out development projects in their respective communities.
Onimiki Renewable Energy wishes to maximize economic benefits in the host region during the construction period.
Local development organizations will also be called upon to help achieve this goal.
Highlights
- The autonomous funds generated by the Onimiki project would be predictable and would enable the implementation of more structuring projects for the community.
- Only community partners will benefit from the liquidity generated.
- An economic impact study will be conducted by an independent firm over the coming months.
- – Instead of a turnkey contract, Onimiki Renewable Energy would award between 20 and 30 contracts.