Industrial Initiatives Program

Financial Assistance

The aim of the Program's financial assistance is to reduce the payback period of a project to one year, but will be limited to the least of the following amounts:

Amount required to reduce the payback period to one year (based on electricity savings)  75% of project costs  15¢ per kilowatthour saved, calculated for the first full year of operation  $350,000 per project

In the case of strictly administrative buildings, the goal of the financial assistance is to reduce the payback period based on electricity savings to three years.

You must assume at least 25% of the total costs of the initiative. The project must be completed within 18 months.

You may receive financial assistance for several projects, up to a maximum of $8 million, on the basis of the following criteria:

One or more service contracts for the same site-$8 million per site  Several sites under the same service contract–$8 million per contract

Grants are paid in three installments:

25% at the start of the project  50% following equipment start-up  Balance on completion of the project

The amount of financial assistance stipulated in the agreement is the maximum that will be paid. However, if project objectives are not achieved or if the project budget is not respected, financial assistance may be reduced in accordance with the Program criteria.