The Canada Infrastructure Bank and Vancouver-based Elemental Energy have secured a $97 million loan to support their newest energy project, Wedgeport Wind.
The Wedgeport Wind project, located in the Municipal District of Argyle, Nova Scotia, will include the construction and installation of 12 Nordex seven-megawatt wind turbines with the capacity to generate up to 84 megawatts of renewable energy, as well as transmission and interconnection infrastructure to link new renewable energy for 30,000 homes and businesses to the provincial power grid.
“The CIB’s $97 million loan towards Wedgeport Wind project will reduce emissions and supply clean, low-cost energy for more than 30,000 homes and businesses in Nova Scotia,” stated Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada.
The project is forecast to reduce emissions by 100,000 tonnes annually and is expected to support up to 85 jobs at the peak of construction, with additional full-time roles for operations and maintenance.
“This important investment will create good jobs, support economic development, and help us move one step closer to building energy security nationwide,” Robertson said. “As a nation of builders, it’s time to build Canada stronger.”
This is the CIB’s second partnership with Elemental Energy. Last year, the partners powered up the Higgins Mountain Wind Project in Colchester, featuring 17 turbines capable of generating up to 100 megawatts of electricity.
For Wedgeport, the pair also partnered with Stevens Wind and Sipekne’katik First Nation.
“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,” stated Jamie Houssian, Principal at Elemental Energy.
To date, the CIB has invested over $950 million across seven energy projects in Nova Scotia, according to Ehren Cory, Chief Executive Officer of Canada Infrastructure Bank.
“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,” the CIB CEO said.
Construction at Wedgeport is underway, with operations to commence by late 2026.