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The Canada Infrastructure Bank (CIB) will extend $108.3 million loan, its first Indigenous equity loan in Quebec, to support construction of the 102.2-megawatt Mesgi’g Ugju’s’n 2 Wind Farm (MU2). This is located in Gespe’gewa’gi.
Mi’gmawei Mawiomi Business Corporation (MMBC), representing the Gesgapegiag, Gespeg and Listuguj Mi’gmaq communities and Innergex Renewable Energy Inc. are partnering on this.
Additional financing is a $163.9 million green loan, a $41 million construction bridge loan and a letter of credit facility from CIBC, Desjardins and National Bank of Canada.
“With our first investment in a Quebec wind energy project, the CIB is helping another province expand its clean electricity production and expand the capacity of its grid. This aligns with our mandate to support meaningful Indigenous economic and social development while investing in clean power opportunities.” said
Ehren Cory, CEO, Canada Infrastructure Bank.
“This project is about building—building clean energy, good jobs and stronger communities. Through this investment, the Mi’gmaq will advance clean energy, help power homes and secure long-term benefits through community ownership.” said Hon. Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada.
The MU2 project is supposed to generate approximately 150 direct construction jobs, and is commited to hire at least 30% of the workforce from local Mi’gmaq communities. The wind farm will be situated on the Mi’gmaq traditional territory of Gespe’gewa’gi, near Rivière-Nouvelle. It is slated to be operational in 2026.
