Leaders from all levels of government gathered on the southern shore of Nova Scotia to announce a multi-million-dollar loan to help a renewable energy project expected to bring jobs and lower electricity costs.
The federal government is loaning the development $206 million from the Canada Infrastructure Bank. It will help construct the 33 wind turbines and grid network needed to bring the energy from the Mersey River Wind project to households across the province.
When completed, the project will supply 148.5 megawatts of zero-emission electricity.
“It means enough electricity to power 50,000 Nova Scotia homes,” federal Energy Minister Tim Hodgson said. “It means that electricity is made at home using Nova Scotia’s world-class wind resources, so we can stabilize prices here and we don’t have to import from other countries.”
Premier Tim Houston told attendees at Thursday’s announcement that the company behind the project, Renewall Energy Inc., will be the first added to the renewable-to-retail program, allowing it to sell electricity directly to Nova Scotians.
“This will offer Nova Scotians choice in where they buy their power,” said Premier Tim Houston. “It’s competition added to our province.”
The initial phase of the Mersey River project is expected to be up and running in early 2027, according to Renewall.
“This is clean energy built and produced in Nova Scotia for Nova Scotians,” said Dan Roscoe, President of Renewall. “The jobs, the savings, and the economic benefits stay in our communities. Everyone is looking for affordable, renewable energy, and now can find it right here.”
Residential customers can join a wait list now, with accounts allocated on a first-come, first-serve basis. Renewall has also told commercial and industrial customers to reach out to begin proposal discussions.