Canada Infrastructure Bank lends CAD 97M for Wedgeport Wind project in Nova Scotia

Mechanism

CIB, Canada's federal Crown infrastructure-financing corporation, provided a CAD 97 million loan under its CAD 10 billion Clean Power priority sector to reach financial close on Wedgeport Wind, an 84 MW project using 12 Nordex 7 MW turbines. The project pairs private developers (Elemental Energy, Stevens Wind) with Sipekne'katik First Nation and the Mi'kma'ki Municipal Limited Partnership on construction, and was procured under Nova Scotia's Rate Based Procurement process. Output is expected to supply over 30,000 homes and businesses once operational (targeted late 2026), supporting up to 85 construction-phase jobs.

This is below-market, state-directed Crown-bank financing rather than open-market debt, consistent with GTA's state-loan/state-aid intervention classification. Severity is set low (2), matching CIB's other project-scale wind-financing actions (e.g. the MU2 Quebec loan) given the modest absolute sum and non-strategic-materials, single-project scope relative to Canada's larger critical-minerals and grid-capacity industrial-policy actions.

Downstream implications

• Second CIB financing deal with the Elemental Energy / SFN partnership,

extending a repeat-developer relationship on Nova Scotia wind capacity.

• Adds to the 2025 wave of CIB Clean Power loans backing Indigenous- and

community-partnered renewable projects tracked under the Western industrial-policy stack theme.

Open questions

• Whether the Rate Based Procurement pipeline in Nova Scotia will generate

further CIB-financed projects with similar partnership structures.