Eligibility Criteria
In order to be eligible for a loan guarantee under the Program projects are required to have:
- Agreements in place to purchase energy in the case of generation projects or regulated rates in the case of transmission projects
- Experienced proponents and project partners with track records in construction and operation
- Completion of the OFA’s due diligence process
- A corporation that is wholly-owned by the Aboriginal Community which will be the applicant to the program and will take on all aspects of the project, such as signing contracts and entering into partnership agreements.
If eligible, applicants could receive ALGP guarantees for up to 75 per cent of the Aboriginal equity in a project to a maximum of $50 million.
Guarantees would be provided at the point of financial close (i.e. pre-construction but post-feasibility & other approvals).
