First Nations Clean Energy funding

From Tahltan Central Council:

“Tahltan must be part of decision making concerning land and resources as Tahltan people continue to exercise their inherent right to self government, including Tahltan land stewardship that protects Tahltan lands for future generations.”

TAHLTAN NATION RECEIVES $500,000 FROM FIRST NATIONS CLEAN ENERGY FUND

In early December, Tahltan Central Council learned that our Nation would be receiving $500,000 from a provincial fund called the “First Nations Clean Energy Fund” after submitting an application earlier in the year. The grant is the maximum amount that can be awarded. The funding will be used to help our Nation invest a total of $2 million in the Volcano Creek run-of-river hydroelectric project.

In addition to receiving money through revenue-sharing agreements, which is how we are compensated for most developments in our territory, we will be taking a large financial stake in Volcano Creek. As investors, our role as decision-makers, not stakeholders, is emphasized. Profit from the project belongs directly to the Nation, instead of first belonging to the company and then being given to us. Investing in Volcano Creek does not compromise any of the revenue-sharing agreements already in place.

Volcano Creek is expected to run for 60 years and provide a 7.95% return every year, meaning that an initial $2 million would grow to around about $13.2 million in 60 years.

This is in addition to existing revenue-sharing agreements in place. The project is very well managed, beginning commercial operations in late December, a full two years ahead of the original schedule.

This news is the latest result of respectful and fruitful ongoing relationships with the province and AltaGas’s run-of-river hydroelectric projects. Already there is an agreement in place to share the revenue that comes from the projects, and there are also impact benefit agreements (IBAs) between AltaGas, TCC, Tahltan Band Council and Iskut Band Council.

As well as allowing for investment, the IBAs provide jobs and training opportunities for our people while also making sure Tahltan people are involved in environmental protection and monitoring. This includes an Environmental Protection Committee that is made up of both Tahltan and AltaGas representatives.

Volcano Creek is a run-of-river hydroelectric project that delivers power to the Northwest Transmission Line. It is one of three AltaGas projects in Tahltan territory. The others are the Forrest Kerr and McLymont Creek hydroelectric projects.

Source: http://www.tahltan.org/sites/default/files/newsletters/TCC_Newsletter_Jan2015_JF_v9_web.pdf