Nova Scotia paper mill to be powered by wind farm with financing from federal agency

(Canadian Press)-A Cape Breton paper mill says a federal investment in 24 new wind turbines completes the financing of a project that will secure its future electricity needs. The Canada Infrastructure Bank has announced it will provide $224.2 million in loans for Port Hawkesbury Paper Wind Ltd., which will supply about 60 per cent of the average annual power needs of its sister company, Port Hawkesbury Paper. Nigel Cave, the vice-president of Stern Partners, which owns the two firms, said during a news conference in Mulgrave, N.S., that the $450 million project, called Goose Harbour Lake wind farm, is now fully financed. The wind farm, which will be 10 per cent owned by 13 Mi’kmaq First Nations, will be capable of generating 168 megawatts of electricity once the turbines begin…

This content is for Yearly Subscription, Yearly Subscription – Corporate, Print Subscription Only, and Canada Print and Online members only.
Register
Already a member? Log in here

Add Your Voice

Is there more to this story? We'd like to hear from you about this or any other stories you think we should know about. Contribute your voice on our contribute page.