Borrowing costs for Saamis Solar Project in front of Medicine Hat City Council on Monday
Medicine Hat’s City Council is expected to make a decision Monday on the second and third readings of a bylaw allowing it to incur $65.75 million in debt for the Saamis Solar Project.
Council has stated that the project is expected to be profitable, improve the City’s financial position and increase dividends from its municipally owned energy business, without raising property taxes or electricity rates.
Council approved a $131.5 million budget for the Saamis Solar Project at a meeting in early February, with a firm requirement that a long-term energy sales contract be finalized before breaking ground.
—

