COSIME acted as financial and economic advisor as part of efforts to conclude a partnership agreement and to develop and finance the 150-MW Mesgi'g Ugju's'n wind farm project in Gaspesie (Quebec). The mandate included the review and evaluation of financial proposals from various potential partners, based on the financial benefits for the client. We also assisted in the partnership negotiations on project development, construction and operations over a period of 20+ years. COSIME is currently providing advice to the Mi’gmaq Nation for negotiations with promoters from the oil, natural gas and other industries.
In 2010, 66% of the Mi’gmaq Nation’s federal transfer revenues were used to provide services to the community. The Mi’gmaq set a goal to have local economic activity represent 60% of their revenues by 2040. To reach this goal, the most effective strategy was deemed to be the conclusion of partnership agreements with experienced promoters, and the Mi’gmaq undertook a rigorous process to select private partners.
After successful negotiations, the Mi’gmaq signed a contract with Hydro-Québec in March 2014 for the distribution of the power produced by the wind farm.