Indigenous Green Loan Guarantee for Renewable Electricity Program Round 2 (REP2)
Green Loan Guarantees are available to fund the development of large-scale renewable electricity generation projects as a key component of the Government of Alberta’s target of 30 per cent renewable electricity by 2030.
All Alberta-based First Nation communities, Metis Settlements, the Metis Nation of Alberta, the Aseniwuche Winewak Nation, and the community-owned organizations or businesses that are 100 per cent Indigenous are eligible. By participating in renewable energy projects, First Nation and Metis communities can benefit from employment and training opportunities as projects are developed and through financial dividends once projects come into service.
A total of $50 million in Green Loan Guarantees are available to support Indigenous participation in REP2, with funds being reserved until projects have been awarded in December 2018. Projects that qualify under the Alberta Electric System Operator (AESO) Request for Proposals and meet all requirements as outlined by AESO are eligible for a Green Loan Guarantee.
Green Loan Guarantees will guarantee up to 50 per cent of the minimum equity participation of 25 per cent. If an indigenous participant holds more than 25 per cent equity in a project, the guarantee will support up to 25 per cent equity ownership. Green Loan Guarantees are available for up to 10 years from the date of issue to a maximum guarantee of $25 million per loan.
An application will be coming soon. To apply, your financial institution must complete and submit a Green Loan Guarantees form to Energy Efficiency Alberta on your behalf. For more information, please contact Christopher Brown at email@example.com.