Financing agreement will support more renewable energy in Nova Scotia
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- Elemental Energy's partners include Sipekne'katik First Nation and Stevens Wind
- 85 jobs created during construction and full-time jobs to support operations
- 12 wind turbines to provide 84 megawatts of electricity to the region
HALIFAX, NS, June 5, 2025 /CNW/ - The Canada Infrastructure Bank (CIB) and Elemental Energy have reached financial close on a $97 million loan to support a new wind energy project, Wedgeport Wind, located in the Municipal District of Argyle, Nova Scotia.
The project includes construction and installation of 12 Nordex seven-megawatt wind turbines with the capacity to generate up to 84 megawatts of renewable energy. The development also includes construction of transmission and interconnection infrastructure, to link new renewable energy to the provincial power grid. This added electricity capacity will supply more than 30,000 homes and businesses throughout the region with reliable, low-cost energy.
The project is expected to support up to 85 jobs at the peak of construction, with additional full-time employment opportunities for operations and maintenance.
Wedgeport Wind is a partnership between Elemental Energy, Stevens Wind and Sipekne'katik First Nation (SFN). The partners have retained the Mi'kma'ki Municipal Limited Partnership (MMLP), a partnership between Wskinjnu'k Mtnm'tanqunuow Agency Limited (WMA) and the Municipal Group of Companies to construct the project. WMA is an economic development organization representing all 13 Mi'kmaq communities in Nova Scotia and through this partnership, MMLP is committed to maximizing Mi'kmaq participation in projects through workforce creation, local development and training initiatives.
Construction is already underway, with operations to commence by late 2026.
The project supports Nova Scotia's goal of attracting lower-cost innovative energy solutions and the project is expected to reduce emissions by more than 100,000 tonnes annually.
This is the CIB's second partnership with Elemental Energy and partners SFN and Stevens Wind, as part of Nova Scotia's Rate Based Procurement process. The CIB's loan accelerates the construction of the energy project, at a lower cost to Nova Scotians.
The project is being financed under the CIB's $10 billion Clean Power priority sector, which addresses financing gaps in new projects such as renewables, district energy systems and energy storage.
Endorsements
To date, the CIB has invested over $950 million in seven energy projects in Nova Scotia. Wedgeport Wind demonstrates our commitment to supporting the province and First Nations as they partner to develop energy infrastructure to strengthen the grid with affordable, clean power.
Ehren Cory, CEO, Canada Infrastructure Bank
As a nation of builders, it's time to build Canada stronger. The CIB's $97 million loan towards Wedgeport Wind will reduce emissions and supply clean, low-cost energy for more than 30,000 homes and businesses in Nova Scotia. This important investment will create good jobs, support economic development, and help us move one step closer to building energy security nationwide.
Hon. Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada
Elemental Energy, along with our partners, Sipekne'katik First Nation and Stevens Wind, is proud to support the federal government and the province of Nova Scotia with reducing greenhouse gas emissions while contributing clean, affordable and renewable electricity for the benefit of all Nova Scotians through the Wedgeport Wind Project.
Jamie Houssian, Principal, Elemental Energy
Learn More:
Canada Infrastructure Bank
Elemental Energy
SOURCE Canada Infrastructure Bank
Media contacts: Canada Infrastructure Bank, [email protected]
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