Canada Infrastructure Bank signs MOU to advance wind energy project in Nova Scotia
December 20, 2019
CANADA (News release) -- Canada Infrastructure Bank (CIB), Port Hawkesbury Paper and IFE Project Management Canada (IFE) sign a Memorandum of Understanding (MOU) formalizing their collaboration on the potential Pirate Harbour Wind Farm in Nova Scotia.
The MOU confirms CIB will conduct due diligence work with Port Hawkesbury Paper and IFE during the project evaluation and planning phase. CIB's work could lead to an investment in the project, subject to all standard due diligence and decision making.
With support from the Province of Nova Scotia, Port Hawkesbury Paper and IFE are evaluating the potential development of a 112 megawatt wind farm, comprised of 28 four megawatt wind turbines, 15 kilometres of overland transmission lines and two kilometres of subsea cables.
The wind farm would supply green energy to Port Hawkesbury Paper, the largest industrial employer in the region, with the goal of further enhancing sustainable energy supply to Nova Scotian industry. It also supports provincial and federal commitments to the environment and the Mill's ongoing commitment to an environmentally sustainable business.
This is CIB's first opportunity to partner on a project in Nova Scotia. CIB has specialized infrastructure expertise and the wind farm is consistent with one of its priority sectors - green infrastructure.