The Canada Infrastructure Bank (CIB) and Elemental Energy have achieved financial close on a $118m loan to support the Higgins Mountain wind project in Nova Scotia, Canada.
Located within the municipalities of Colchester and Cumberland, the wind farm benefits from strong wind generation capacity and proximity to existing transmission infrastructure.
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The facility will be equipped with 17 wind turbines and will generate 100MW of electricity – enough to power 40,000 homes and cut carbon emissions by more than 200,000t annually.
Elemental Energy, along with partners Stevens Wind and the Sipekne’katik First Nation (SFN), will oversee the design, construction and operation of the Higgins Mountain facility.
The project will provide training and development opportunities for SFN and local contractors.
The construction phase will create 100 jobs, with additional full-time roles to support operations once the facility is active.
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By GlobalDataThe wind facility’s construction has commenced, to begin operations by late 2025.
Canada Infrastructure Bank CEO Ehren Cory stated: “Our $118m loan towards the Higgins Mountain wind project demonstrates our continued commitment to advancing clean energy projects across the province of Nova Scotia.
“The CIB is proud to support projects that provide homes and businesses with clean, reliable electricity, […] essential for the province as they work towards a more sustainable power grid.”
The CIB’s project financing aligns with Nova Scotia’s energy transition goal, which targets 80% clean energy by 2030.
The project’s financing is part of the CIB’s $10bn clean power priority sector, addressing the financing needs of new renewable energy projects, district energy systems and energy storage solutions.
Elemental Energy principal Jamie Houssian said: “Elemental Energy, along with our partners, Sipekne’katik First Nation and Stevens Wind, is proud to support the federal government and the province of Nova Scotia with reducing greenhouse gas emissions by contributing clean, affordable and renewable electricity for the benefit of all Nova Scotians through the Higgins Mountain wind farm project.
“We have been pleased to work collaboratively with the CIB, along with other stakeholders on the project including Natural Resources Canada and Royal Bank of Canada to bring this project to life.”
