The Weavers Mountain Wind Energy Project will feature 16 Nordex turbines at a 125-meter hub height, with anti-icing system blade technology and a 25-year power purchase agreement.
The project will generate clean, renewable power and will create approximately 150 jobs during the construction phase.
Glooscap First Nation will hold a majority stake in a joint venture with SWEB Development. The project will be supported by Desjardins Group, which will provide $105.6 million in credit facilities, while Natural Resources Canada will contribute $25 million in grants.
The financing will help fund the installation of wind turbines and associated electricity infrastructure. The project aims to reduce annual emissions by about 221,000 tons CO2e, equivalent to 1.5% of Nova Scotia’s total emissions in 2022.
This clean energy initiative supports the decarbonization of the Nova Scotia electrical grid, contributing to more reliable, affordable electricity for ratepayers and accelerating the province’s energy transition.
Nova Scotia aims to achieve 80% of energy from renewables by 2030, with a goal to reduce greenhouse gas emissions from electricity generation by more than 90%.
The CIB’s low-cost, long-term financing plays an important role in narrowing the affordability gap between wind generation and alternative emitting sources.
Project revenues from a power purchase agreement with Nova Scotia Power Inc. will be used to repay the CIB loan.
The wind project is expected to begin commercial operations in late 2026, marking an important step forward in the province’s transition towards a more sustainable future.
“The CIB’s loan will generate clean affordable energy, while creating jobs that support Nova Scotia’s goal to decarbonize the electric grid,” said Sean Fraser, Government of Canada
“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,“ saidEhren Cory, Chief Executive Officer, Canada Infrastructure Bank
“As stewards of the land, water and natural resources, we are committed to protecting what sustains us while creating lasting economic opportunities for our people. By owning 51 per cent of the WEB Weavers Mountain Wind project, we are ensuring our community benefits directly while supplying clean energy to Nova Scotia, “ concluded Chief Sidney Peters, Glooscap First Nation.
