CIB commits $224.2 million to Port Hawkesbury Paper Wind’s Large-Scale Energy Project

January 21, 2025
The Canada Infrastructure Bank (CIB) is providing $224.2 million in loans to help Port Hawkesbury Paper Wind Ltd build a large-scale wind energy project and support 13 Mi’kmaw First Nations, through Wskijinu’k Mtmo’taqnuow Agency Ltd. (WMA), buy a 10 per cent stake in the project.
The Goose Harbour Lake Wind Farm involves construction and installation of 24 Nordex N163-7.0MW cold climate turbines at a 118 metre hub height with anti-icing system blade technology, wind turbines producing zero-emission, sustainable electricity generation capacity of 168 megawatts. The lead building team is RES Canada Construction LP.
The wind power project will support Nova Scotia’s energy grid and in turn contribute power to the largest industrial user of electricity. Port Hawkesbury Paper is a significant contributor to the economic well-being of Nova Scotia, and particularly the eastern region of the province. Recent economic impact studies have confirmed that the facility directly employs approximately 325 people, and contracts another 900 jobs, employing hundreds of forestry contractors and suppliers.

The wind project will create 150 full-time construction jobs, up to five permanent wind farm jobs and generate economic development for the region.
The Indigenous Equity loan is the second to WMA, following a deal last year related to an energy storage project in Nova Scotia.
The wind farm is expected to reduce greenhouse gas (GHG) emissions by more than 350,000 tonnes a year, equivalent to 2.4 per cent of Nova Scotia’s emissions in 2021, and help the province’s energy transition, moving from coal to renewables.
Commercial operations are expected to begin in 2026.
The project is being financed under the CIB’s $10 billion Clean Power priority sector, which is dedicated to addressing financing gaps in new projects such as renewables, district energy systems and energy storage.
Go HERE for more information on the project