The Canada Infrastructure Bank (CIB) and Elemental Energy have reached financial close on a $118 million loan to support the Higgins Mountain Wind Project, located within the municipalities of Colchester and Cumberland in Nova Scotia, Canada.
The project consists of 17 wind turbines and will have an expected 100 MW capacity.
Elemental Energy and partners Stevens Wind and Sipekne’katik First Nation are slated to design, construct and operate the facility, which includes training and development opportunities for the Nation and local contractors.
Construction of the wind facility is now under way, with operations expected to commence later this year.
“Our $118 million loan towards the Higgins Mountain Wind Project demonstrates our continued commitment to advancing clean energy projects across the province of Nova Scotia,” says Ehren Cory, CEO, Canada Infrastructure Bank.
“The CIB is proud to support projects that provide homes and businesses with clean, reliable electricity, which is essential for the province as they work towards a more sustainable power grid.”
The project is being financed under the CIB’s $10 billion Clean Power priority sector.
