The provincial Aboriginal Loan Guarantee Program for First Nation and Metis participation in clean energy projects is being expanded.
The expansion will deliver an additional $150 million available under the loan program.
The program provides loan guarantees of up to 75 per cent of an Aboriginal community's investment in an eligible project. It makes borrowing money more affordable for First Nations and Metis communities to buy equity in projects.
The program has received applications totalling $250 million for projects that are expected to bring more than 600 megawatts of renewable energy online.
“Working as partners in land and resource development, we are unlocking Ontario's clean energy potential and creating real and lasting opportunities for First Nation and Metis communities,” said Michael Gravelle, MPP for Thunder Bay-Superior North.
.jpeg;w=120;h=80;mode=crop)
