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Wasoqonatl Transmission Line

Sector(s)
Clean Power
Region(s)
Onslow, NS, to Salisbury, NB
Investment
$285 million
(financial close)
Partner(s)
Nova Scotia Power, Inc., Wskijinu’k Mtmo’taqnuow Agency Ltd. (WMA), Mi’gmaq United Investment Network (MUIN), CIBC

Nova Scotia Mi’kmaq and New Brunswick Mi’gmaq secure equity in transmission line

Enhanced CIB investment supports large-scale energy project 

Fast facts

CIB providing $54M loan Nova Scotia’s Mi’kmaq Wskijnu’k Mtmo’taqnuow Agency Limited (WMA) and Mi’gmaq United Investment Network (MUIN) in New Brunswick
Project involves new 160-km, 345 kV transmission line between provinces
CIB increases project investment to $285 million, including its first equity investment

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

Workers in excavator digs near transmission lines cutting through forest and road.
Wskijinu’k Mtmo’taqnuow Agency Ltd.

Including Indigenous partners like the WMA and MUIN that represent First Nations communities in Nova Scotia and New Brunswick is a positive step towards environmental stewardship and economic reconciliation. As original caretakers of the land, the First Nations people are invested partners in supporting green energy solutions and energy resiliency, and are committed to active participation in this project.

Crystal Nicholas, President
MUIN Transmission Limited Partnership

We are proud to partner with our sisters and brothers in Nova Scotia on this project. Not only will we work together to ensure the lands and waters in our ancestral territory are protected but we will have the ability to provide training and opportunities for our community members. We would like to thank the federal government for providing us with the ability to be part of this project that is important for the Maritimes.  

Chief Rebecca Knockwood
Nova Scotia Power Inc.

The Wasoqonatl Intertie is a transformative project for our region. It will make the power grid stronger and more reliable and open the door for more clean energy to move between provinces. We’re proud to be working alongside our Mi’kmaw partners and the Canada Infrastructure Bank to bring this vision to life. With full approval from the Nova Scotia Energy Board, work is already underway—our team at Nova Scotia Power has started preparing the site and is focused on getting the transmission line built by 2028.

Peter Gregg, President and CEO
NB Power

The partnership and investment announced today clearly shows that by working together with First Nations, governments, energy utilities and other key stakeholders we can advance our region’s clean energy future for the benefit of all Atlantic Canadians. This regional collaboration will improve regional grid security and resilience which is important for the customers we serve.   

Lori Clark, President and CEO
CIBC

CIBC is deeply committed to advancing the economic prosperity of Indigenous peoples by fostering enduring, meaningful partnerships and empowering the ambitions of Indigenous communities. We are honoured to champion Wasoqonatl Interie and the Indigenous Equity Initiative—driving greater Indigenous ownership and leadership in clean energy infrastructure.

Jaimie Lickers, SVP, Indigenous Markets, Commercial Banking