OTTAWA Nov 30 Canada's federal government will
provide a loan guarantee of up to C$6.3 billion ($6.3 billion)
for the Lower Churchill hydro-electric projects in the Atlantic
province of Newfoundland and Labrador, Prime Minister Stephen
Harper said on Friday.
The loan guarantee is designed to help finance the Muskrat
Falls hydro-electric generation station and three transmission
projects, lowering the borrowing costs of the projects and
resulting in lower electricity rates for residents.
In November 2010, Newfoundland's government-owned Nalcor
Energy and Nova Scotia-based Emera Inc announced plans
to develop the projects at an estimated total cost of C$7.4