The First Nations Regeneration Fund financed Aboriginal equity stakes in clean energy projects, particularly those focusing on run-of-river hydro. It was a partnership between the Tale’awtxw Aboriginal Capital Corporation (TACC) and Tribal Resources Investment Corporation (TRICORP), initially managed by Ecotrust Canada Capital, a wholly owned subsidiary corporation of Ecotrust Canada.
The goals of the Regeneration Fund were to:
- Support First Nation participation in projects that are financially attractive, socially beneficial, and low impact ecologically.
- Offer direct access to the wealth created by BC’s clean energy sector
- Assist First Nations to develop sizeable economic revenue streams for community development.
Financing was made available from the First Nation Regeneration Fund as debt to the First Nation. The First Nation repaid its loan through dividends and royalties from the renewable power project and possibly from other sources. Once the loan was repaid, the dividends and royalties became long-term discretionary income that could be used by First Nations for economic or social development.
The First Nation Regeneration Fund supported projects that minimized environmental impacts and maximized socio-economic benefits to local First Nations. These projects included Atlin Xeitl Hydro, owned and operated by the Taku River Tlingit First Nation, Kwoiek Hydro with the Kanaka Bar Indian Band, and Sakwi Creek Power with the Sts’ailes.
For more information, please visit the First Nation Regeneration Fund website.