David Rouault
Plannord.gouv.qc.ca
PLAN NORD creAtion oF the Société
du plAn nord
Reaffirming its intention to make Northern development a priority while ensuring that all its actions are part of a consistent approach, the gouvernement du Québec will create, through legislation, a public coordinating body called the Société du Plan Nord.
The Société du Plan Nord’s mandate will include the following:
n Coordinate public investments in strategic infrastructure and social development
n Coordinate the implementation of projects under the first Five- Year Action Plan
n Negotiate funding for the projects under its jurisdiction The Société du Plan Nord will serve as the gateway to the North for industrial investors and promoters. It will help guide investors and coordinate projects, acting as an intermediary between stakeholders in facilitating information flow.
The Société du Plan Nord will also be a key partner for local and aboriginal communities, providing guidance and support in their community and social development projects.
The Société du Plan Nord’s board of directors will be made up of representatives from the regions, aboriginal nations, the private sector, and the gouvernement du Québec.
oTher eConoMiC deVeloPMenT engines
The Société du Plan Nord will be supported in its tasks by other gouvernement du Québec economic development engines.
Investissement Québec, the government’s financial and economic arm, will be fully active as a guide and facilitator for local and foreign investors.
crEaTion oF THE SociéTé du Plan nord
With the support of Investissement Québec, the government will negotiate support for industrial projects from an endowment of
$500 million. These equity investments will be negotiated according to a business model that includes performance targets:
n Equity investments according to a joint-venture model
n Purchases of shares or investments in convertible debentures Investissement Québec will be tasked with seeking business opportunities in Plan Nord areas, collaborating with the applicable ministries and coordinated by Ministère des Relations internationales.
Investissement Québec will conduct solicitation activities among potential foreign investors through the Québec delegations network.
The public corporation, Hydro-Québec, will take a special strategic role under the Plan Nord. It will pursue the development of renewable energies by adding 3,500 MW of electricity to its energy portfolio, including 3,000 MW from hydroelectricity, 300 MW from wind power, and 200 MW from other renewable energy sources, which will require additional investments in the order of $25 billion over the next 25 years.
In order to facilitate other projects in the Plan Nord area, Hydro- Québec will also support industrial development by constructing and operating off-line hydroelectric stations to provide for the energy needs of specific projects.
The terms of supply contracts will depend on the specifics of each project. After the operational period of each project, Hydro-Québec will find the best uses for these projects.
