A major loan for the Wedgeport Wind project.
The Canada Infrastructure Bank is giving $97 million to Elemental Energy toward the development of 12 wind turbines.
Managing director of investments for the CIB Sashen Guneratna says they’ve been working in Nova Scotia for a few years.
“When we look at making investments, we look at projects that can help improve the electricity sector and add capacity, while also reducing emissions. We’re very excited about this project,” said Guneratna.
This project is expected to create 85 jobs in construction and be complete late next year.
The Sipekne’katik First Nation is a partner with Elemental and Stevens Wind.
“Indigenous community involvement generally results in a project getting built faster with more of a focus on the environmental aspect of the project and partnerships,” added Guneratna.
The partners have retained the Mi’kma’ki Municipal Limited Partnership (MMLP), a partnership between Wskinjnu’k Mtnm’tanqunuow Agency Limited (WMA) and the Municipal Group of Companies to construct the project
The companies say their goal is to supply more than 30,000 homes with clean energy.
The CIB has supported seven energy projects in Nova Scotia totaling $950 million.
We have reached financial close on a $97M loan towards a new energy project in #NovaScotia – Wedgeport Wind! This #infrastructure will generate 84 MW of #renewableelectricity to power homes and businesses throughout the region.
— Canada Infrastructure Bank (CIB) (@cib_en) June 5, 2025
