On March 7, 2025, the Canada Infrastructure Bank (CIB) has finalized a C$117.4 million loan to support the construction of the 94.4-megawatt Weavers Mountain Wind Energy Project in Nova Scotia's Antigonish and Pictou counties. This initiative is a joint venture between Glooscap First Nation, which holds a 51% majority stake, and SWEB Development. The project includes 16 Nordex turbines equipped with anti-icing blade technology and is supported by a 25-year power purchase agreement with Nova Scotia Power Inc.

The total project cost is approximately C$300 million. Alongside CIB’s investment, Desjardins Group is providing C$105.6 million in credit facilities, while Natural Resources Canada is contributing a C$25 million grant. Legal counsel to Desjardins Group was provided by McCarthy Tétrault LLP, led by Jacob Stone and supported by a team with expertise in financial services, construction, real property, and derivatives.

Once operational, the wind farm is expected to reduce annual greenhouse gas emissions by approximately 221,000 tonnes of CO2e, which represents about 1.5% of Nova Scotia’s total emissions in 2022. The project supports the province’s clean energy targets, including achieving 80% renewable electricity by 2030 and cutting emissions from electricity generation by more than 90%.

Construction is projected to create approximately 150 jobs, with commercial operations beginning in late 2026. The project highlights the leadership of Indigenous communities in advancing Canada’s clean energy transition.