A 17-turbine wind farm in central Nova Scotia is receiving a $118-million low-interest loan from a federal Crown corporation.
The Canada Infrastructure Bank announced the loan today for the Higgins Mountain project, operated by Elemental Energy, about 45 kilometres northwest of Truro, N.S.
The federal financial corporation has been offering loans to low-emissions energy projects, and it says this investment will produce enough clean, intermittent power for 40,000 homes.
The project is one of several being promoted by the province and Nova Scotia Power Inc. as part of the province’s drive to reach a legislated target of 80 per cent renewable electricity on the utility’s grid by 2030.
Construction of the wind farm is underway, with operations commencing by late next year.
The project is being financed through the bank’s $10-billion program aimed at supporting energy projects that don’t emit greenhouse gases.
This report by The Canadian Press was first published Sept. 25, 2024.