In response to several requests, Government has removed the investment limit on PEI Energy Savings Bonds for non-profit groups incorporated in Prince Edward Island.
Minister of Environment, Energy and Forestry Jamie Ballem said the change will take effect April 2, 2007.
“The $10,000 annual investment limit for the bond program is working well when it comes to individual Islanders who want to invest. However, many non-profit groups in PEI have a much larger investment portfolio. They want to earn a good return on their investment and they want to invest in a project that benefits Prince Edward Island.
“Government felt it made sense to help make that happen by removing the bond investment limit for non-profits. Whether it is a professional association, charitable group, or other non-profit, these groups contribute a great deal to communities throughout the province.”
PEI Energy Savings Bonds allow Islanders to invest in the Eastern Kings Wind Farm. The 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 bonds went on sale in December and, as of mid-March, Islanders had invested over $5.2 million.
Non-profit groups that want to invest more than $10,000 in PEI Energy Savings Bonds, must purchase the bonds through Provincial Treasury, 2nd Floor South, Shaw Building, 95 Rochford Street, Charlottetown. For more information on the PEI Energy Savings Bonds program, call 1-877-6-BONDS-0 (877-626-6370) or visit the website at www.peienergysavings.pe.ca