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Nova Scotia Mi’kmaq and New Brunswick Mi’gmaq secure equity in transmission line
Enhanced CIB investment supports large-scale energy project
Fast facts
We are making $54 million in equity loans to Nova Scotia and New Brunswick First Nations to help them purchase ownership stakes in Wasoqonatl, a transmission line between the two provinces.
The CIB’s investment in the project is increasing to $285 million from $217 million, previously announced in March 2025, due to the equity loans and additional contributions required to preserve $200 million in savings for Nova Scotia ratepayers.
CIBC is also providing a total of a combined $264.3 million of Indigenous equity loans and project construction financing.
Benefits of the CIB’s involvement
The CIB’s Indigenous Equity loans, which assist the provincial First Nations to acquire ownership stakes in the interprovincial transmission line, are part of Indigenous economic reconciliation that will deliver funds for community needs.
The project supports grid reliability, enabling the planned renewables scale-up in Nova Scotia and New Brunswick and associated emissions benefits.
Construction is expected to support approximately 587 direct and indirect jobs and generate about $105 million in GDP during the construction phase.
Learn more
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