CIB and Elemental Energy secure $118m loan for Higgins Mountain wind project in Nova Scotia
The Canada Infrastructure Bank (CIB) and Elemental Energy have reached financial close on a $118 million loan to support the Higgins Mountain wind project in Nova Scotia. Located in Colchester and Cumberland, the 100 MW wind farm will consist of 17 turbines, generating enough electricity to power 40,000 homes and cutting carbon emissions by over 200,000 tonnes annually.
The project, a collaboration between Elemental Energy, Stevens Wind, and the Sipekne’katik First Nation (SFN), will offer training and development opportunities for SFN and local contractors. The construction phase, already underway, is expected to create 100 jobs, with more full-time roles once operational by late 2025.
CIB CEO Ehren Cory emphasized the bank’s commitment to advancing clean energy in Nova Scotia, aligning with the province’s goal of achieving 80% clean energy by 2030. The project financing falls under the CIB’s $10 billion clean power priority sector, supporting renewable energy projects and energy storage solutions across Canada.
Elemental Energy principal Jamie Houssian expressed pride in partnering with the federal government and local stakeholders to contribute clean, renewable electricity for the benefit of Nova Scotians.