HALIFAX - The governments of Newfoundland and Labrador and Nova Scotia are putting increased emphasis on getting a loan guarantee from Ottawa for the proposed Lower Churchill hydroelectric project.
Natural Resources Minister Shawn Skinner of Newfoundland and Labrador says it's believed a loan guarantee would be the best option for the federal government to participate in the $6.2-billion project.
Skinner says it wouldn't require Ottawa to contribute funding and would help reduce interest rates and lower the overall cost of financing the project.
Energy Minister Charlie Parker of Nova Scotia says both provinces think it is the easiest way to get Ottawa's help.
Both provinces made a joint request last June asking for $375 million in federal funding to build an undersea power cable connecting the two provinces.
Skinner says funding talks are ongoing and Ottawa has asked for additional information, which will be presented to federal officials on Wednesday.
