First Nations Clean Energy Business Fund — Capacity Funding
Highlights
This program is designed specifically for businesses like yours, offering a unique opportunity to participate in the clean energy sector. By applying, you can access up to $50,000 in Capacity Funding to support feasibility studies, community energy planning, and engagement with project proponents. This funding helps you evaluate potential projects and make informed decisions, ensuring your business is well-prepared for future investments.
Additionally, the program offers Equity Funding up to $500,000 for financially viable clean energy projects. This substantial support can cover key project tasks such as business planning, permitting, and construction. The program also includes revenue sharing agreements, allowing your business to benefit from provincial water and land rentals, providing a steady income stream as long as the project operates.
Qualifying for this program is straightforward, and the benefits are significant. With government backing, you gain financial stability and the resources needed to thrive in the clean energy sector. This is a chance to grow your business while contributing to sustainable development in your community.
Financing Details
Type of Financing:
- Capacity Funding: Grant
- Equity Funding: Grant
- Revenue Sharing: Revenue Sharing Agreement
Repayment Terms and Interest Rates:
- Capacity Funding: No repayment required.
- Equity Funding: No repayment required.
- Revenue Sharing: Revenue sharing is based on provincial resource rents (land and water rentals) and lasts as long as the project is operating.
Eligible Expenses:
Capacity Funding:
- Clean energy project feasibility studies
- Community energy planning
- Engaging with project proponents
- Financial analysis of potential projects
Equity Funding:
- Business plan development
- Permitting
- Financing
- Interconnection agreements
- Major equipment orders
- Construction commencement
- Commissioning
- Final design
Ineligible Expenses:
- Funds cannot be used for expenses outside the scope of clean energy projects and related activities.
Fees:
- There are no fees associated with applying for Capacity Funding or Equity Funding.
- Revenue sharing agreements do not incur any fees.
Qualifications
- Must be an Indigenous community in British Columbia.
- Must fall into one of the following categories:
- A First Nation "band" as defined by the Indian Act (Canada).
- An Indigenous governing body, however organized and established by Indigenous peoples.
The proposed project must be located in British Columbia.
Disqualifications:
- Applicants that are not Indigenous communities in British Columbia.
- Projects located outside of British Columbia.
Description
The program is designed to help your business get involved in clean energy projects. You can receive up to $50,000 in Capacity Funding. This money can be used for feasibility studies, community energy planning, or engaging with project proponents. This funding helps you understand the potential of clean energy projects in your area before making a bigger investment.
You can also apply for up to $500,000 in Equity Funding. This money supports clean energy projects that are financially viable and have an Energy Purchase Agreement. You can use it for tasks like creating a business plan, obtaining permits, financing, and starting construction.
Additionally, there are revenue-sharing agreements. If a clean energy project impacts your territory, you can receive a share of the provincial water and land rentals. This means your business benefits directly from the clean energy projects operating in your area.
Program Steps
Download the Application Worksheet:
- Access the FNCEBF Clean Energy Capacity Funding Application or FNCEBF Clean Energy Equity Funding Application from the official website.
Prepare Required Documentation:
- Gather the following documents:
- Business plan
- Financial statements
- Community Energy Planning (CEP) template (if applicable)
- Details of intended use of funds
- Permitting information
- Financing agreements
- Interconnection agreement (if applicable)
- Major equipment orders (if applicable)
- Construction commencement details (if applicable)
- Final design plans (if applicable)
- Gather the following documents:
Complete the Application Worksheet:
- Fill out the application worksheet thoroughly. Ensure all sections are completed accurately.
Review Funding Categories:
- Review the qualifications and requirements for Capacity Funding and Equity Funding to ensure your project aligns with the program's objectives.
Contact FNCEBF Support:
- Reach out to [email protected] or call 1-800-880-1022 for any questions or assistance with the application process.
Submit the Application:
- Submit the completed application worksheet and all required documentation by the deadline, April 30, 2024.
Await Review and Feedback:
- The Ministry of Indigenous Relations and Reconciliation will review your application. Be prepared to provide additional information if requested.
Approval and Agreement:
- If approved, discuss and finalize the funding agreement with the Ministry. Ensure you understand the terms and conditions before proceeding.
Receive Funding and Begin Project:
- Upon agreement, receive the funds and start your clean energy project as outlined in your application.