Published in the CBA Aboriginal Law Section Newsletter, Aboriginal Writes, January 2010.
A renewable energy boom is coming to Ontario if the government estimates come to fruition. Ontario estimates that the Green Energy Act will create 50,000 jobs in the sector over three years and $10 billion in revenue.
As part of its rollout of Ontario’s Green Energy Act, the Ministry of Energy and Infrastructure has announced three programs to help Aboriginal groups and local communities participate in the renewable energy boom. These initiatives should provide greater access to capital markets, help reduce the interest rates on loans for eligible borrowers, and fund many of the plans and studies needed to push projects forward. In addition, renewable energy projects with significant Aboriginal participation will be eligible for “price adders” under the Ontario Power Authority’s feed-in tariffs (FIT) program, as well as reduced security payments for applicants.
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