P3 Canada Fund Milestones
In 2009-10, PPP Canada launched its operations, with a focus on the P3 Canada Fund. In September 2009, after a market sounding to gauge interest in the program, streamline the process for applications, and identify a pipeline of P3 projects, the P3 Canada Fund was successfully launched.
PPP Canada completed Round One of the P3 Canada Fund in October 2009. This success gave the Corporation immediate credibility, legitimacy and presence in the P3 market. Building on the success of Round One, PPP Canada launched Round Two of the Fund in spring 2010.
Round Two closed on June 30, 2010. 73 proposals were received for projects in 11 Provinces and Territories. Of those, close to half were municipal projects covering a wide spectrum of infrastructure classes. For the first time, projects were received from Newfoundland and Labrador and Nunavut following targeted efforts in these areas.
In its third year of operations, PPP Canada continues to grow its P3 market development program and service offerings. The Corporation closed the Round Three call for proposals on June 30, 2011. Once again, PPP Canada saw an increase in project applications, totaling 121 submissions. Of these, 80 were from municipalities, 16 from First Nations and 9 from provinces and territories. Again, project submissions covered a wide range of sectors; of them, more than 20 percent fell into transportation or transportation-related categories; 12 percent into the Green Energy category; and 20 percent into water and wastewater categories.
PPP Canada sees this increase in submissions as a signal that the P3 Canada Fund is able to leverage increasing consideration of P3 as an alternative infrastructure delivery model, particularly in new P3 markets.
PPP Canada believes that the increased value and accountability generated by more and better P3 procurements, in addition to the budget certainty they provide, will leverage savings for taxpayers, far beyond the operations of the organization.