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OSEA working with partners to develop new financial products
OSEA is excited to announce two new low-interest financing choices that support the Community Power sector. Our two newest members, the Italian Canadian Savings and Credit Union and the Canada Mortgage and Housing Corporation, are offering special financing that can assist with the development of sustainable energy projects.
In 2007 OSEA created the Community Power Fund to provide soft-cost grants for the Community Power sector. OSEA continues its commitment to the sector by working with our members to identify new financing options and opportunities for communities pursuing sustainable energy initiatives.
We are pleased to welcome both the Italian Canadian Savings and Credit Union and the Canada Mortgage and Housing Corporation on board, and we look forward to working together to further the growth of the sector.
The Italian Canadian Savings and Credit Union has announced a low interest solar rooftop loan for residential property owners, commercial enterprises and Community Power groups seeking to participate in the province's new feed-in tariff programs. The financing package is very competitive providing a 5.5% interest rate. For more information contact the Italian Canadian Savings and Credit Union at 416-784-0200 or visit their website (http://www.icsavings.ca).
The Canada Mortgage and Housing Corporation's (CMHC) Municipal Infrastructure Lending Program provides municipalities access to low-cost financing to develop wind, solar, biogas, biomass and hydro projects under Ontario's new feed-in tariff programs. CMHC is working with interested municipalities to identify creative ways to structure the loans to support solely owned municipal initiatives as well as partnerships and other community based initiatives. Information about the program can be found at http://www.cmhc.ca/housingactionplan/hemubustco/index.cfm or by calling 1-800-668-2642. Applications for loans can also be made directly on the CMHC website (https://www.cmhc-schl.gc.ca/housingactionplan/hemubustco/apply_online.cfm).
Last Updated: Wednesday, March 17, 2010 at 3:08:32 PM
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