Kokish Hydroelectric
The ‘ Namgis First Nation received $ 7.2 million in funding from PPP Canada . This agency manages public – private partnerships ( P3s ), which are an approach to developing public infrastructure that allows governments to hold the private sector accountable for a project ’ s success over its lifespan . The idea behind the P3s is to transfer to the private sector a major share of the risk associated with infrastructure development , such as cost overruns , schedule delays , unexpected maintenance , or latent defects . Essentially , a P3 project ensures that there aren ’ t any surprises for taxpayers and the private sector is engaged via a contract for the life of the asset .
“ Once the construction phase is done , all the high standards are met , and all of the risk of any delay is avoided , that ’ s the point where the P3 funding kicks in ,” Hanuse explained . “ That ’ s significant for us because P3 funding basically provided us with the means to stand on our own in terms of securing financing to participate in this project from a source other than our partner . It also will provide us with early benefits , so after repaying our loan , there will still be profits that are available for our community . That ’ s really important because one of our major goals is to become self-sufficient . The early profits from this project will provide us with the resources that we need to stimulate economic growth in our community and build a better future for our children .”
The Long Term When looking at the life span of the asset , it ’ s important to take a long term view .
“ Our initial contract to supply power to BC Hydro is for an initial period of 40 years , so we have guaranteed income for 40 years ,” Hanuse said . “ It ’ s a stable and steady revenue stream . But the Kokish facility can have a lifespan of 100 years with good maintenance , so it could provide benefits for generations .”
While the power agreements are important , the long-term environmental impact is still crucial to the ‘ Namgis . “ Throughout the lifespan of the project there will be environmental monitoring to ensure that the project continues to meet
54 December 2014