InfoPEI
For immediate release PEI ENERGY SAVINGS BONDS GO ON SALE MONDAY CHARLOTTETOWN, PEI Islanders will have the opportunity to invest in a “green” province as PEI Energy Savings Bonds go on sale Monday, December 11.Premier Pat Binns and Minister of Environment, Energy and Forestry Jamie Ballem launched the PEI Energy Savings Bonds program today at Province House. The savings bonds program will allow Islanders to invest in the Eastern Kings Wind Farm. “Islanders can put their hard-earned dollars in a safe and reliable investment with a good return. And that money will stay right here in Prince Edward Island to support a project that’s good for the environment and good for the province,” said Premier Binns. PEI Energy Savings Bonds have a guaranteed return of 5% annually for five years. Either the purchaser or the owner of the bond must be a Prince Edward Island resident, business or organization. The minimum purchase is $500 and the ownership limit is $10,000 per calendar year. “Islanders have clearly shown their support for wind energy,” said Minister Ballem. “With PEI Energy Savings Bonds, they can become true partners in wind energy development and help bring about a green energy future for Prince Edward Island.” PEI Energy Savings Bonds will be sold at Credit Unions across the province and at Provincial Treasury, 2nd Floor South, Shaw Building, 95 Rochford Street, Charlottetown. Eligibility of the bonds as qualified investments for a self-directed registered retirement savings plan (RRSP) is pending Canada Revenue Agency approval. Six-year-old Liam MacDonald, who will receive the first PEI Energy Savings Bond valued at $500, is featured in the promotional campaign for the PEI Energy Savings Bonds. The son of Shawna MacAulay, Liam is a Grade 1 student at Parkdale Elementary School. His class is featured in the television commercial for the bonds. PEI Energy Savings Bonds are issued through the Prince Edward Island Renewable Energy Corporation, a wholly-owned subsidiary of the PEI Energy Corporation which will own and operate the Eastern Kings Wind Farm. The 10 turbines have been assembled and the wind farm is expected to be in operation by the end of the year. It will supply 7.5% of PEI’s total energy needs – enough wind energy to power about 12,000 homes and reduce greenhouse gas emissions by 75,000 tonnes annually. For more information on PEI Energy Savings Bonds, call 1-877-6-BONDS-0 or visit the website at www.peienergysavings.pe.ca - 30 -For additional information, contact Sandra Lambe. | ||||||||
