Construction of Hydromega Services’ 10-MW Okikendawt hydropower project has begun. The project — located adjacent to an existing dam that controls an outflow from Ontario’s Lake Nipissing into the French River — is a joint venture between Hydromega and the Dokis First Nation.
All energy generated by the small hydropower plant will be sold to the Ontario Power Authority for a 40-year term via a feed-in tariff (FIT) power purchase agreement, according to HydroWorld.com.
The partners said they were helped in the project’s development by the Ontario Power Authority, Hydro One, the Ontario Ministry of Natural Resources, federal departments of Aboriginal Affairs, Northern Development and Public Works, Government Services Canada and other local and federal municipalities.
Financing for the project was arranged by the Stonebridge Financial Corporation and funded by Industrial Alliance Insurance, Financial Services Inc., the Stonebridge Infrastructure Debt Fund 1 Limited Partnership, and the Royal Bank of Canada.
