Muskrat Falls loan guarantee announced today

What is being called a “major” announcement will be made this morning involving all the major players in the Muskrat Falls hydro development – Federal ministers, provincial ministers from Nova Scotia, and representatives from both Nalcor and Emera. The announcement is being billed as a “clean energy for Atlantic Canada” initiative, and is taking place at 9:00 this morning at Atlantic Place. The historic announcement means a much cheaper development for all involved parties; a loan guarantee on the proposed $6.2 billion project essentially lets the provincial government borrow money using the Federal government’s credit rating to reduce the interest paid on said loans. The loan guarantee would provide significant savings throughout the course of the project’s development. Stay tuned to TheIndependent.ca for pictures of the new conference.

Source: VOCM

Our goal is to raise $15,000 before the end of the year to solidify our plans for 2023. We need your support to keep producing this progressive, explanatory, and unique local journalism.

 

Want more of The Independent?

You can make it happen.

More in-depth explainers. More community news.

Will you help us raise $15,000 for our investigative journalism, witty commentary, and cutting analysis of Newfoundland and Labrador issues?

This site uses cookies to provide you with a great user experience. By continuing to use this website, you consent to the use of cookies in accordance with our privacy policy.

Scroll to Top