The Government of British Columbia has announced that C$3.3 million in funding has been provided to 61 aboriginal communities to facilitate clean energy development projects and attract additional investment. Cleantech expenditures are made through the First Nations Clean Energy Business Fund, established and capitalized by the provincial government in 2010.
Ministry of Aboriginal Relations and Reconciliation
B.C.’s First Nations clean-energy commitment tops $3 million
VICTORIA – The B.C. government is providing another $764,600 through the First Nations Clean Energy Business Fund (FNCEBF) to help 10 First Nations communities pursue clean-power options.
Since 2011, B.C. has invested $3.26 million to help 61 Aboriginal communities participate in the clean-energy sector, including wind energy, biomass and run-of-river hydroelectric power.
The FNCEBF provides money to build capacity in First Nations communities and invest in clean-energy infrastructure. By providing a mixture of capacity building, feasibility and project-development funding combined with equity funding for projects and revenue-sharing, the fund helps to generate jobs for families and provide opportunities that benefit First Nations and non-First Nation communities alike. It also helps to foster economic independence for First Nations.
Applications to the fund are reviewed and decisions made based on the strength of each application and its viability relative to other applications.
B.C.’s clean-energy technology industry is one of the fastest growing industries in the province, with more than 200 organizations, 68 per cent of which were formed in the past decade.
Ida Chong, Minister of Aboriginal Relations and Reconciliation –
“Clean energy is a key part of the BC Jobs Plan, and an area in which First Nations are playing a vital and ever-increasing role. The fund’s success speaks to First Nations’ determination to bring clean power sources to their communities and to create new business opportunities.”
– This funding is from the fifth call for FNCEBF applications. The next intake of applications closes on Feb. 28, 2013.
– The First Nations Clean Energy Business Fund promotes increased First Nations participation in the clean-energy sector through:
– Revenue-sharing from eligible clean-energy projects based on revenues derived from water rentals and land rents.
– Equity funding of up to $500,000 for First Nations to invest in clean-energy projects and to help communities attract further investment.
– Capacity-development funding of up to $50,000 to support First Nations with community-energy planning, feasibility studies or engagement with private-sector proponents of clean-energy projects.
– A percentage of land and water rentals generated by eligible projects will be returned to the fund with the goal of becoming self-revenue-generating in the future.
For more information about the First Nations Clean Energy Business Fund and how to apply, please call 1 800 880-1022 toll-free or visit http://www.gov.bc.ca/arr/economic/fncebf.html