Canadian agriculture producers and agribusiness operators considering renewable energy sources in their business will soon have a new financing option.
"There are sources of energy all around Canadian farmyards and we're helping producers invest in the technologies needed to tap those opportunities," says Agriculture Minister Gerry Ritz.
The Farm Credit Canada Energy Loan will help producers and agribusiness owners who want to produce their own renewable energy. Greg Stewart, FCC President and Chief Executive Officer says it's a growing interest of Canadian producers.
"We're definitely seeing an increase in the number of people across the country who are interested in renewable energy sources to reduce costs and demand on the energy grid," he says.
A recent FCC Vision study showed 60 per cent of individuals surveyed are considering new ways to find financial value by reducing their environmental impact.
The survey, completed in November 2009 by 1,172 producers and agribusinesses across the country, revealed 37 per cent of those looking to reduce their impact are considering the use of renewable energy sources in their operation.
Available March 1, the energy loan will help producers and agribusiness operators purchase and install on-farm energy sources like biogas, geo-thermal, wind or solar power. The energy loan offers an interest term of up to five years at variable or fixed rates and with monthly, quarterly, semi-annual and annual payments available.
For more information on the Vision survey, visit http://www.fccvision.ca/InAction.aspx.




