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First equity investment supports Nova Scotia to New Brunswick transmission line
Facilitates construction of essential connection between two Maritime provinces
Fast facts
We are making CIB’s first equity investment in a transmission line between Nova Scotia and New Brunswick which will facilitate the integration of new energy sources, future-proof provincial transmission grids, enhance resiliency and improve power reliability.
A $217-million equity investment from the CIB’s Clean Power priority sector will help Nova Scotia will fund a new 160-kilometre, 345 kV transmission line alongside the existing line from Onslow, NS, to Salisbury, NB.
Working to finalize a loan to Wskijinu'k Mtmo'taqnuow Agency Ltd. (WMA), which represents Nova Scotia’s 13 Mi’kmaw First Nations, so Indigenous communities can buy an ownership stake in the project, which is a component of economic reconciliation.
A limited partnership jointly owned by Nova Scotia Power Inc. (NSPI) and CIB will own the project through a regulated utility corporation.
Benefits of the CIB’s involvement
The investment by the CIB further helps to accelerate the transition to clean energy in Atlantic Canada and make projects more affordable and produce savings for Nova Scotia ratepayers. The project supports grid reliability, enabling the planned renewables scale-up in Nova Scotia, 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
- Nova Scotia Power Inc. - Opens in a new tab
- Wskijinu’k Mtmo’taqnuow Agency Ltd. - Opens in a new tab
Disclaimer: The Canada Infrastructure Bank (CIB) in its sole and absolute discretion may choose to make available amendments, revisions, modifications, or replacements to this website. This page will remain open for further revision, modification, replacement or cancellation by the CIB at any time and in no event shall the CIB be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on the content of this website. Images courtesy of NSPI.