Thank you very much for the question. That's very much our business model.
I spend most of my time in small aircraft going to a lot of remote communities, and not all the communities have the same capacity to develop these projects. We try to find the ones that have the capacity, and then we do the projects, make sure they can be replicated, and continue to build capacity in the community. These are long-term projects. I agree 100%.
The difficulty right now is that the access to apply for those subsidies does not exist. You need to be able to provide stability over a long time. Given the nature of the federal treasury and the consolidated revenue account, it's going to take a little bit of work to make this a reality.
I'm not saying that every community is ready; some communities will never be ready. Many communities, though, are very ready to move forward but lack the equity to get the projects done. The private sector, and we're not the only ones, is prepared to invest where the business case can be made.
Keep in mind that when a utility like Nalcor—I'm sitting down with a bunch of Newfoundlanders and I'm really pleased that I am—does a capital investment, they do it over a 40- or 45-year economic model. If you're looking at renewables to replace diesel, we're only talking 20-year models. It still means there have to be some funds there for equity participation by the indigenous community.
We're not a charity. We're not going to go in and do a project because it makes us feel good. We go into projects that actually make a difference, that actually give a return for investors. We know that in many of these cases we can get 8%, 10%, 12%, even as high as 15% returns over the long term, but the community needs access to equity. Our proposition is that if you're going to spend the money and burn it up the chimney, give it to the community if they come forward with a viable business plan and a partner from the private sector—so I agree.