  |
 |
 |
 |
 |
|
Eligibility Criteria
In order to make borrowing money for the purpose of buying equity in renewable energy infrastructure projects more affordable, the government will provide loan guarantees to corporations wholly owned by eligible First Nations, Métis and Aboriginal communities.
The government will guarantee up to 75 per cent of an Aboriginal corporation’s equity in an eligible project, to a maximum of $50 million per project. With this amount, the program's $250 million can be more evenly spread over many projects and communities.
Projects will be required to have:
- Agreements in place to pre-purchase energy in the case of a generation project or regulated rates in the case of a transmission project
- Experienced proponents and project partners with track records in construction and operation
- Commercial financing arrangements in place.
The participating Aboriginal community will be required to create wholly owned corporations to take on all aspects of the project, such as signing contracts and entering into partner agreements.
