Elemental Energy has achieved financial close on a CAD 118 million (USD 87.8 million/EUR 78.4 million) loan from the Canada Infrastructure Bank (CIB) to support the construction of the Higgins Mountain wind farm in Nova Scotia, which will have a capacity of up to 100 MW.
The project spans two municipalities—Colchester and Cumberland—and involves a collaboration between Elemental Energy, Stevens Wind, and the Sipekne'katik First Nation (SFN) for the design, construction, and operation of the facility.
Comprising 17 turbines, the wind farm will utilize existing transmission infrastructure nearby. Once operational, expected by late 2025, it is projected to generate enough electricity to power over 40,000 homes annually.
The financing is part of CIB's CAD 10 billion Clean Power priority sector, which aims to address financing gaps for new projects in renewables, district energy systems, and energy storage.
