We must ensure our energy security—now more than ever.
Today, we took a big step forward with Nova Scotia, New Brunswick and First Nations partners to link, enhance, and secure our power grids while creating good jobs along the way.
The Canada Infrastructure Bank (CIB) is committing $217 million in equity financing to for the Nova Scotia to New Brunswick Reliability Intertie project, a new energy transmission line—the first phase of the modified Atlantic Loop.
This project will improve the reliability of our power grid, while modernizing and strengthening it for the expansion of renewable energy production.
On top of this, the CIB is working with Wskijinu’k Mtmo’taqnuow Agency Ltd. (WMA), the economic development partnership owned by the 13 Mi’kmaw First Nations in Nova Scotia, enabling them to acquire an ownership stake in the project.
The transmission line’s construction is expected to create approximately 587 direct and indirect jobs, contribute $105 million to GDP, and is a great example of interprovincial collaboration.
The project will be named Wasoqonatl (pronounced wa·so·hgo·na·dêl), meaning “illuminate” or “keep the light on” in Miꞌkmawiꞌsimk.
LEARN MORE:
https://cib-bic.ca/…/cib-commits-217-million-to…/…
