The Green Loan Guarantee Program is a $400 million credit enhancement program designed to support financial institutions and utilities that offer financing for energy efficiency, renewable energy, and clean technology projects.
How does it work?
There are two approaches to this program:
Are you a facility owner or manager with a project that you are seeking to finance? Or a project developer with a specific project to finance? Or a financial institution with a promising project and a need for some additional risk sharing?
The GLGP provides qualifying commercial and industrial projects a guarantee that allows a lender to recover up to 50 per cent of the principal and accrued interest on a loan that may go into default. The term is for a maximum of ten years from the date of issuance of the GLGP.
Are you a financial institution, utility or related entity that is already providing financing for energy efficiency and clean technology projects to small to medium commercial and industrial facilities? Could you support more projects with access to additional risk management strategies? Energy Efficiency Alberta is developing a program option to work with lenders to apply the loan guarantee to groupings of projects to reduce risk and cost for smaller projects.
Who is eligible?
The Green Loan Guarantee Program is designed specifically for commercial and industrial sectors. There are four classes of participants based on emissions:
|Class of Participant||Maximum guarantee per loan|
|Indigenous Community||$25 million|
|Large Emitter (emitting 100,000 tonnes or more of greenhouse gases annually)||$50 million|
|Medium Emitter (emitting between 10,000 and 100,000 tonnes of greenhouse gases annually)||$25 million|
|Small Emitter (emitting less than 10,000 tonnes of greenhouse gases annually)||$10 million|
Try out our GHG Emissions Calculator to estimate your facility’s annual greenhouse gas emissions.
Recipients of loans supported by the GLGP must be:
- Incorporated in Canada and registered to conduct business in Alberta.
- Have business operations directed and managed in Alberta.
How do I Apply?
- The financial institution completes the GLGP Qualified Lenders Application The financial institution may register proactively, or when they have a specific project seeking the guarantee.
- A financial institution submits a Loan Guarantee Application Form specific to the project on your behalf.
- Submissions will be reviewed along with specific project details to assess the loan guarantee application.
Please submit applications by email to firstname.lastname@example.org.
Please send us an email at email@example.com.