The Canada Infrastructure Bank (CIB) and Elemental Energy have successfully finalized a $118 million loan to fund the Higgins Mountain Wind Project in Nova Scotia. The wind farm, located in Colchester and Cumberland municipalities, will feature 17 turbines generating 100MW of electricity, enough to power 40,000 homes and reduce carbon emissions by over 200,000 tonnes annually.

In partnership with Stevens Wind and the Sipekne'katik First Nation (SFN), Elemental Energy will oversee the project's design, construction, and operation. The facility aims to offer training and development opportunities for SFN members and local contractors. The project is expected to create 100 jobs during the construction phase and additional full-time roles once operational.

The wind farm is set to start operating by late 2025, aligning with Nova Scotia’s goal of achieving 80% clean energy by 2030. The financing is part of the CIB’s $10 billion clean power initiative, which supports renewable energy projects across Canada.

Ehren Cory, CEO of CIB, emphasized the importance of this project in Nova Scotia’s energy transition, noting, “Our $118m loan demonstrates our commitment to advancing clean energy projects that provide clean, reliable electricity."

Jamie Houssian, principal of Elemental Energy, said, “We are proud to work with the CIB and our partners to contribute clean and renewable electricity, helping Nova Scotia reduce greenhouse gas emissions.”

Source: cib-bic.ca