The Canada Infrastructure Bank is providing a $206-million loan to support development of the Mersey River Wind project in Nova Scotia.

The financing will help fund construction of a 33-turbine wind farm expected to generate 148.5 megawatts of zero-emission electricity—enough to power more than 50,000 homes. The project is being developed by a partnership between Slate Asset Management and funds managed by Hamilton Lane, with Renewall Energy set to sell renewable electricity directly to residents and businesses in the province.

Construction will occur in two phases, with the first phase expected to be completed in 2027. More than 200 workers are anticipated to be employed at the peak of construction.

The project is expected to avoid approximately 220,000 tonnes of emissions annually—about 1.5% of Nova Scotia’s carbon output in 2022—as the province transitions away from coal-based power generation by 2030.

“Clean power investments are essential to meeting energy security goals and ensuring sustainable economic development,” said Ehren Cory, CEO of CIB. “Our $206-million loan in Mersey River Wind supports an important clean-energy project and shows how the CIB can collaborate on sustainable infrastructure, create energy resilience for Nova Scotians and stimulate economic opportunities.”

The wind project may also qualify for the federal Clean Technology Investment Tax Credit covering up to 30% of capital costs, potentially worth up to $122.5 million. In addition, Natural Resources Canada is providing up to $25 million through its Smart Renewables and Electrification Pathways program.

“This investment demonstrates how strategic partnerships can deliver real benefits for communities while advancing Canada’s clean energy future,” said Gregor Robertson, Canada’s minister of housing and infrastructure. “By supporting the Mersey River Wind project, we’re helping Nova Scotians access more affordable, reliable, and renewable electricity. Our government is committed to investing in infrastructure that reduces emissions, creates good jobs and strengthens our economy.”

“The Mersey River project will bring affordable, sovereign, clean electricity to more than 50,000 homes in Nova Scotia, while creating jobs and providing stable long-term electricity prices,” said Tim Hodgson, minister of energy and natural resources.

Separately, Natural Resources Canada announced nearly $5 million in funding to Net Zero Atlantic for a data-analysis and modelling project supporting offshore wind planning in Atlantic Canada.