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episodes: November 2012 Archives

Muskrat Falls hydroelectric project clears major hurdle

Posted by Tony Dawson

loan signing.jpg N.L. Premier Kathy Dunderdale, MP Peter Mackay, MP Peter Penashue, and N.S. Premier Darrell Dexter watch Prime Minister Stephen Harper sign the Muskrat Falls loan guarantee in Happy Valley-Goose Bay, Labrador, on Friday. (CBC) Prime Minister Stephen Harper has announced a federal loan guarantee for the controversial Muskrat Falls hydroelectric project, clearing the final major hurdle to launching the hydroelectric project.

Harper announced in Happy Valley-Goose Bay, Labrador, this afternoon that the federal government has signed a deal with the governments of Newfoundland and Labrador and Nova Scotia, and their provincial energy companies, Nalcor and Emera.

“The Lower Churchill projects will receive the support they need to move forward, which will have significant economic and environmental gains due to a substantial reduction in greenhouse gas emissions,” said Harper.

A number of politicians were on hand for the announcement, held at 5 Wing Goose Bay Military Base, including Newfoundland and Labrador Premier Kathy Dunderdale, Nova Scotia Premier Darrell Dexter, and federal cabinet ministers Peter Penashue and Peter MacKay

The guarantee will substantially lower the costs of borrowing for the project. It will cover project-related debt of up to $6.3-billion. It applies to the Muskrat Falls Generation Station, plus three transmission links, the Labrador transmission interconnection, the link from Labrador to Newfoundland, and the link from Newfoundland to Nova Scotia.

The loan guarantee will be valid for 35 to 40 years.

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Protesting the Harper visit

Posted by Tony Dawson

harper protest 006.jpg Protesters at 5 Wing Goose Bay (photos: Byron Hamel) harper protest 011.jpg Short notice or not, Protesters have gathered at the entrance to 5 Wing Goose Bay in anticipation of the Prime Minister’s arrival. It’s expected Stephan Harper will announce the loan guarantee that will clear the way to the development of Muskrat Falls. Labrador Morning’s John Gaudi met up with some of the protesters at lunch time.

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Prime Minister Harper - In Labrador for Muskrat Announcement

Posted by Tony Dawson

harper_dexter_mackay_dunderdale_penashue.PNG Stephan Harper - Darrell Dexter - Peter Mackay - Kathy Dunderdale - Peter Penashue Prime Minister Stephen Harper will be at 5 Wing Goose Bay later this afternoon. He’s coming to announce the finalization of a loan guarantee for Muskrat Falls. Negotiations on the loan guarantee were happening late into the day yesterday. Premier Kathy Dunderdale also made last minute plans to travel to Labrador today, along with the Nova Scotia Premier Darrel Dexter. The timing is quite sudden and it seems like this entire event has been pulled together in the last 24 hours. For some insight into Harper’s big announcement today, we have Elizabeth Thompson on the line. She’s one of our regular political columnists at Labrador Morning and a senior writer for Ipolitics.ca

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Link to Mp3: PRIME MINISTER IN LABRADOR

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