The Canada Infrastructure Bank (CIB) has decided to provide $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. Furthermore, Goose Harbour Lake Wind Farm will support Port Hawkesbury Paper’s energy requirements and Nova Scotia’s transition to clean power.
The Goose Harbour Lake Wind Farm will feature 24 Nordex N163-7.0 MW cold climate turbines with a hub height of 118 meters and anti-icing blade technology. These turbines will deliver a zero-emission, sustainable electricity generation capacity of 168 MW. Additionally, the project is expected to reach commercial operations by 2026.
CIB is a federal financial institution that supports infrastructure projects in Canada. It aims to invest in revenue-generating infrastructure that benefits Canadians and draws private capital. Their investment strategy is aligned with the Government of Canada’s economic priorities. It also offers advisory services to project sponsors to optimize the impact and outcomes of infrastructure development.
