In February 2024, the Canada Infrastructure Bank (CIB) announced a commitment of $138.2 million to support the development of Atlantic Canada's largest planned energy storage project. This initiative is a collaboration between Nova Scotia Power Inc. (NS Power) and the Wskijinu'k Mtmo'taqnuow Agency Ltd. (WMA), an economic limited partnership owned by 13 Mi’kmaw communities.

Under the financing arrangement, NS Power will receive a loan of up to $120.2 million, while WMA will receive an equity loan of up to $18 million. This marks the CIB's first investment under its Indigenous Equity Initiative, aiming to facilitate Indigenous participation in major infrastructure projects.

The project entails the construction of three 50-megawatt, four-hour battery energy storage facilities located in White Rock, Bridgewater, and Waverley. These facilities are designed to store renewable electricity during off-peak periods and release it to the grid when needed, thereby enhancing grid reliability and supporting Nova Scotia's goal of achieving 80 percent renewable energy by 2030.

Phased construction is scheduled to commence in 2024, with the first site expected to be operational by 2025 and full completion anticipated by 2026.