The Canada Infrastructure Bank has achieved financial close of a $117.4 million loan for the construction of a 94.4 MW Weavers Mountain Wind Energy Project. This project is situated in Nova Scotia’s Antigonish and Pictou counties. It includes 16 Nordex turbines with a hub height of 125 meters. It also consists of anti-icing system blade technology and a 25-year power purchase agreement.
Furthermore, Glooscap First Nation, in a joint venture with SWEB Development, will hold a majority stake in the project. The project will receive $105.6 million in credit facilities from Desjardins Group and $25 million in grants from Natural Resources Canada. Additionally, the project is expected to begin commercial operations in late 2026.
Earlier in January 2025, CIB provided $224.2 million as a loan to Port Hawkesbury Paper Wind Ltd for developing a large-scale wind energy project. Additionally, this funding will support 13 Mi’kmaw First Nations, through Wskijinu’k Mtmo’taqnuow Agency Ltd. (WMA), in acquiring a 10 per cent stake in the project.
