CIB’s first project opportunity in Nova Scotia supports the economy and environment
POINT TUPPER – Canada Infrastructure Bank (CIB), Port Hawkesbury Paper and IFE Project Management Canada (IFE) announced today the signing of 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.
- CIB is a Crown corporation mandated to invest $35 billion in federal funding and attract private sector investment into new revenue-generating infrastructure projects.
- CIB is focused on transformational projects that are in the public interest. Public transit, trade and transportation, green infrastructure and broadband are priority sectors for investment.
- The Pirate Harbour Wind Farm represents CIB’s eighth project in total and demonstrates CIB is advising on and investing in projects across sectors and regions.
- The project will reduce the Mill’s reliance on fossil fuels for energy, resulting in reduced greenhouse gas emissions. The project adds clean, renewable energy generation to the Province and will further increase the sustainability of the Mill’s paper production operations.
- Port Hawkesbury Paper and IFE will lead the design, construction and financing of the wind farm.
- This project is an example of how CIB can partner with the private sector and collaborate with the public sector on a project that is in the public interest. The potential wind farm will support environmental and green infrastructure objectives.
This announcement from the Canada Infrastructure Bank is in line with our Government’s commitment to making communities cleaner, healthier and better for Canadians. This project would reduce the Mill’s reliance on fossil fuels for energy, focusing instead on wind farming as a source of renewable energy. CIB’s expertise in green infrastructure will be an asset to this project during the planning phase.
Catherine McKenna, Minister of Infrastructure and Communities
CIB is pleased to bring our infrastructure investment expertise to partner with Port Hawkesbury Paper and IFE. The Pirate Harbour Wind Farm is aligned with provincial, federal and CIB priorities in terms of green infrastructure investment, increased capacity in renewable energy generation and promoting economic development.
Pierre Lavallée, President and CEO, Canada Infrastructure Bank
Nova Scotia is a national leader in fighting climate change, and we have reached this position while keeping electricity rates stable. Now, we have set the most ambitious emission reduction targets in the country. The potential of adding more clean, renewable wind energy to our province could help us achieve our goals, while supporting the future of one of the largest employers in rural Nova Scotia. That’s why we are pleased to see this project coming forward for consideration.
Derek Mombourquette, Nova Scotia Minister of Energy and Mines
This partnership has the potential to enable the production of clean energy for the area’s largest industrial employer, while helping the community of Point Tupper, and the entire province, to diversify and become more sustainable.
Andy Fillmore, Parliamentary Secretary to the Minister of Infrastructure and Communities
Port Hawkesbury Paper is excited to continue the evaluation of the Pirate Harbour Wind Farm with the assistance of the CIB and the support of the Province in order to help further governmental commitments on the environment and enhance long-term environmentally sustainable paper production at the Mill.
Bevan Lock, Co-Mill Manager, Port Hawkesbury Paper
IFE is very pleased to work with CIB and Port Hawkesbury Paper on the development of this green infrastructure project. A decision to build this wind farm will be a landmark in Atlantic Canada, as it will be the first time that a pulp and paper mill, or any large industrial facility, has chosen to work with a wind developer to purchase green energy to fuel its activities.
Keith Towse, CEO, IFE Project Management Canada Inc.
Source: Canada Infrastructure Bank