A Nova Scotian clean energy upstart has secured substantial funding.
Halifax-born EverWind Fuels this month raised more than $200M to advance construction of the company’s 650-megawatt onshore wind portfolio and support delivery of the Point Tupper Green Fuels Project.
The capital hails from Nuveen Energy Infrastructure Credit, the infrastructure credit investing arm of Nuveen, a global asset manager with $1.4 trillion under management, through its Energy Power Infrastructure Credit II fund.
“Nuveen’s investment is a major step forward for EverWind and a strong vote of confidence in Nova Scotia as a place where serious clean energy infrastructure can be built,” says EverWind founder and chief executive officer Trent Vichie.
The transaction represents one of the largest private clean energy investments in Atlantic Canada ever, according to statement from the firms.
The investment “converts years of development work into shovel-ready execution, creating substantial procurement opportunities for Nova Scotian suppliers, hundreds of construction jobs, and long-term skilled roles in rural communities,” Vichie noted.
Vichie says EverWind is advancing its projects through a carefully sequenced, phased development strategy that manages investment and execution risk while building toward a fully integrated clean energy platform.
This approach sequences wind generation, grid infrastructure, and green fuels production as interconnected but independently viable stages, with each phase building on demonstrated operational success.
Nuveen carries “conviction in EverWind’s capabilities and strategic vision in developing commercially economic clean energy projects that support the global energy transition,” stated Don Dimitrievich, who functions as Portfolio Manager of Nuveen Energy Infrastructure Credit.
EverWind’s “phased approach—advancing proven wind generation while building toward green fuels production—aligns with our infrastructure strategy of backing scalable platforms that can deliver both near-term cash flows and multi-decade growth,” he said.
Construction is planned to commence in 2026 with commercial operations targeted for 2028.
“Major institutional capital is choosing to back large-scale clean power infrastructure in Nova Scotia, bringing outside investment into the province and Canada,” Vichie says. “By investing at this scale, our project will generate long-term economic and community benefits, including municipal and provincial tax revenues and direct community contributions.”
EverWind was founded in 2021.