The project is also eligible for the Clean Technology Investment Tax Credit (ITC) for up to 30% of capital costs
33 wind turbines will deliver 148.5 MW of clean power
Renewall Energy Inc. will sell renewable electricity directly to Nova Scotia residents and businesses
HUNTS POINT, NS, Feb. 26, 2026 /CNW/ - The Canada Infrastructure Bank (CIB) is providing a $206 million loan to a partnership between Slate Asset Management and funds managed by Hamilton Lane to develop a wind farm at Mersey River. Project partner Renewall Energy Inc. will sell electricity to end customers in Nova Scotia.
The project includes construction and installation of 33 wind turbines with related grid connection infrastructure. The wind farm is expected to supply 148.5 MW of zero-emission electricity, capable of powering more than 50,000 homes.
A bridge crosses the Mersey River under blue skies near the future site of a wind farm. (CNW Group/Canada Infrastructure Bank)
Mersey (CNW Group/Canada Infrastructure Bank)
Slate (CNW Group/Canada Infrastructure Bank)
Hamilton Lane (CNW Group/Canada Infrastructure Bank)
RBC (CNW Group/Canada Infrastructure Bank)
Canada (CNW Group/Canada Infrastructure Bank)
Renewall (CNW Group/Canada Infrastructure Bank)
The announcement was made by the Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada, and the Honourable Tim Hodgson, Minister of Energy and Natural Resources.
This large-scale project will help support the province's energy transition, as Nova Scotia moves from coal-based electricity generation to clean electricity by 2030. The wind farm is expected to avoid approximately 220,000 tonnes of emissions per year, equivalent to 1.5% of Nova Scotia's carbon output in 2022.
Renewall secured Nova Scotia's first renewable-to-retail program licence to sell electricity from 100% renewable sources directly to end customers. This licence gives residents, public institutions, commercial and industrial customers the ability to achieve emissions reductions and sustainability objectives.
Construction will take place in two phases, with the first phase expected to be completed in 2027. More than 200 workers are expected to be employed at the peak of construction activities.
The project is eligible for the Clean Technology Investment Tax Credit (ITC) for up to 30% of capital costs. Additionally, Natural Resources Canada's Smart Renewables and Electrification Pathways (SREP) program is providing up to $25 million.
RBC is acting as administrative agent, lead arranger and bookrunner of related construction loans to Mersey River Wind.
The project is being financed under the CIB's Clean Power priority sector, which addresses financing gaps in low-carbon emissions projects such as renewables, district energy systems and energy storage.
Minister Hodgson also announced that NRCan will provide nearly $5 million in funding to Net Zero Atlantic for the Data Analysis and Modelling for Atlantic Offshore Wind and Transmission project, to support the next stage of offshore wind planning and the proposed Wind West and Atlantic Energy Strategy. Advancing major electricity development is a shared priority between Canada and Nova Scotia, and Canada is pleased to move forward on a strategy that was referred to the Major Projects Office by Prime Minister Mark Carney in September 2025.
The Province of Nova Scotia's contribution is both financial and in-kind support, valued at nearly $700,000.
Endorsements
Clean power investments are essential to meeting energy security goals and ensuring sustainable economic development. Our $206 million loan in Mersey River Wind supports an important clean energy project and shows how the CIB can collaborate on sustainable infrastructure, create energy resilience for Nova Scotians and stimulate economic opportunities. Ehren Cory, CEO, Canada Infrastructure Bank
This investment demonstrates how strategic partnerships can deliver real benefits for communities while advancing Canada's clean energy future. By supporting the Mersey River Wind project, we're helping Nova Scotians access more affordable, reliable, and renewable electricity. Our government is committed to investing in infrastructure that reduces emissions, creates good jobs and strengthens our economy. Hon. Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada
The Mersey River project will bring affordable, sovereign, clean electricity to more than 50,000 homes in Nova Scotia, while creating jobs and providing stable long-term electricity prices. By moving forward with this project and the FEED study for the proposed Wind West project, our new government is ensuring we unlock the energy and economic power of some of the world's best wind resources--enhancing energy affordability and security while building Canada into a clean energy superpower. Hon. Tim Hodgson, Minister of Energy and Natural Resources
Nova Scotia is quickly becoming a recognized leader for getting energy projects done here, and I am delighted to see progress on the Mersey River Wind project. With our immense energy opportunities, including onshore and offshore wind, we can power our economy and improve energy security, reliability, and affordability. We continue to press forward on our Wind West plan, and this analysis and modelling project will help inform long-term planning and support readiness for a clean, reliable, and interconnected electricity system powered by Nova Scotia's offshore wind. Hon. Tim Houston, Premier of Nova Scotia and Minister of Energy
Mersey River Wind is building more of what we need right here at home: reliable clean power, good jobs and long-term economic opportunity. This is a positive step towards delivering affordable, sustainable electricity to Nova Scotia families and businesses. Projects like this spur meaningful growth, investment and partnerships in our region. It's a strong example of how Atlantic Canada is stepping up and helping to power Canada's energy future. Hon. Sean Fraser, Member of Parliament for Central Nova, Minister of Justice and Attorney General of Canada and Minister responsible for the Atlantic Canada Opportunities Agency
Today's announcement reflects our commitment to investing in modern infrastructure that supports Nova Scotians. By working with strong partners, we are helping build a cleaner and more resilient energy system as an important step towards building a reliable and sustainable energy future for our province. Jessica Fancy, Member of Parliament for South Shore--St. Margarets
Renewall is bringing greater choice and affordability to Nova Scotia electricity consumers for the very first time. With the support of the Canada Infrastructure Bank and the Government of Canada, the Mersey River Wind project will harness our province's natural wind power advantage to provide clean renewable power to Nova Scotia families and businesses for decades to come. Dan Roscoe, President, Renewall Energy Inc.
Slate is proud to support the advancement of Nova Scotia's energy transition in partnership with our project stakeholders. Drawing on more than 20 years of leadership in Canadian real assets, our essential infrastructure strategy targets investments in projects like Mersey River Wind that deliver reliable, sustainable, and long-term energy solutions. Jeff Rodgers, Managing Director, Slate Asset Management
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