EverWind has secured a strategic investment of $175 million from Nuveen Energy Infrastructure Credit, the infrastructure credit investment arm of Nuveen, a global asset manager with $1.4 trillion in assets under management. The funding will support the development of EverWind’s onshore wind portfolio and the Point Tupper green fuels project in Nova Scotia. The investment was made through Nuveen Energy Infrastructure Credit’s Energy Power Infrastructure Credit II fund, which is backed by several Canadian pension plans and insurance companies.
The financing supports the first phase of EverWind’s wind development programme, which includes more than 650 MW of permitted onshore wind capacity across multiple locations in Nova Scotia. This phase represents a total capital investment exceeding $2 billion. Construction activities are expected to begin in 2026, with commercial operations targeted for 2028. DNV conducted the technical, commercial, and financial diligence for the transaction.
Furthermore, the wind projects will be connected to the Nova Scotia Power transmission network and will supply renewable electricity to the Point Tupper project, linking renewable power generation with green fuel production, and will enable green hydrogen and ammonia export to domestic and international markets. The majority ownership in the phase 1 wind projects is held by an indigenous consortium led by Membertou First Nation.
In September 2025, EverWind received environmental assessment approval from the Nova Scotia Department of Environment and Climate Change for the 432 MW Setapuktuk onshore wind project in the Municipality of the District of Guysborough. Additionally, the project will be connected to the Point Tupper green fuels project through the approved Strait Crossing transmission line to supply power for green hydrogen and green ammonia production.