Reading Time: 2 minutes
The Canada Infrastructure Bank (CIB) has finalized a $117.4 million loan to support the construction of a new wind farm in Nova Scotia. The Weavers Mountain Wind Energy Project will be located in Antigonish and Pictou counties and is set to generate 94.4 megawatts of clean energy.
The wind farm will include 16 Nordex turbines with 125-metre hub heights and anti-icing blades. It will operate under a 25-year power purchase agreement with Nova Scotia Power Inc.
Construction is expected to create about 150 jobs, providing a boost to the local economy. Once operational, the project is projected to reduce greenhouse gas emissions by 221,000 tonnes of CO₂e annually—roughly 1.5% of Nova Scotia’s total emissions in 2022.
Glooscap First Nation will hold a majority stake in the project through a joint venture with SWEB Development. Desjardins Group is providing $105.6 million in credit facilities, and Natural Resources Canada will contribute $25 million in grants.
The funding will cover turbine installation and supporting electrical infrastructure. The project supports Nova Scotia’s goal to generate 80% of its electricity from renewables by 2030 and cut emissions from electricity generation by more than 90%.
The CIB’s low-cost, long-term financing is aimed at helping close the cost gap between clean energy and more polluting sources. Revenues from the project’s power sales will be used to repay the CIB loan.
Commercial operations are expected to begin in late 2026, marking a major step in Nova Scotia’s clean energy transition.
“Our latest wind investment in Nova Scotia will further support the province’s decarbonization efforts. The wind farm, majority owned by the Glooscap First Nation, will generate clean, renewable power and leverage the province’s support for similar projects. The CIB has already backed three wind farms and one energy storage project in the province and a transmission intertie between Nova Scotia and New Brunswick, contributing to the region’s efforts to phase out coal generation while creating new economic opportunities.” said Ehren Cory, CEO, Canada Infrastructure Bank.
“The CIB’s loan will generate clean affordable energy, while creating jobs that support Nova Scotia’sgoal to decarbonize the electric grid.” added Hon. Sean Fraser, Member of Parliament for Central Nova, on behalf of the Honourable Nathaniel Erskine-Smith, Minister of Housing, Infrastructure and Communities.
