(Under construction)
Wind energy project to deliver reliable power for Nova Scotians
84-megawatts of sustainable energy will support households in the region
Fast facts
We are loaning $97 million towards a new energy project, Wedgeport Wind, located in the Municipal District of Argyle, in Nova Scotia.
The CIB’s investment will enable the construction of 12 new wind turbines which will produce up to 84 megawatts of renewable energy for the provincial grid.
The project is expected to support up to 85 jobs during the peak of construction, with additional full-time employment opportunities for operations and maintenance.
The CIB’s involvement enables a faster build out of the project. The project is consistent with Nova Scotia’s commitment of achieving 80% of generation via renewable energy by 2030 and their off-coal obligations.
The wind energy project is expected to reduce emissions by more than 100,000 tonnes annually and supports Nova Scotia’s goal of attracting lower cost innovative energy solutions.
Benefits of the CIB’s involvement
This investment falls within the CIB’s Clean Power priority sector which has a $10 billion of available capital to help increase energy supply and security, advance clean power generation, distribution and use and make the transition to new energy projects more affordable for ratepayers.
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