Indigenous ownership in Atlantic Canada’s energy system is expanding. A new federal loan will help First Nations in Nova Scotia and New Brunswick buy into a major transmission project.
The Canada Infrastructure Bank (CIB) is providing $54 million in equity loans to support Indigenous ownership in the Wasoqonatl intertie, a 160‑kilometre, 345‑kilovolt transmission line running parallel to the existing connection between Onslow, Nova Scotia, and Salisbury, New Brunswick.
CIB said the new financing brings its total commitment to the project to $285 million.
Under the plan, $36 million will go to Wskijinu’k Mtmo’taqnuow Agency Limited, allowing Nova Scotia’s 13 Mi’kmaw First Nations to acquire an equity stake.
Another $18 million will support MUIN Transmission Limited Partnership, giving New Brunswick Mi’gmaq First Nations their first ownership position in a large‑scale clean‑energy project.
The loans are being delivered through the bank’s Indigenous Equity Initiative, which is intended to help Indigenous communities access affordable capital for major infrastructure projects.
CIBC, the project’s lead arranger, is contributing an additional $264.3 million in Indigenous equity loans and project construction financing.
The CIB noted that its investment includes measures designed to preserve about $200 million in savings for Nova Scotia electricity customers.
The Nova Scotia Energy Board has approved the project, and Nova Scotia Power reported that construction is underway, with completion targeted for 2028.
CIB added that the intertie will improve electricity trade between provinces, strengthen grid resilience and energy security, and support long‑term affordability.
Ownership of the project will be held through a regulated utility corporation that includes Nova Scotia Power, the Canada Infrastructure Bank, MUIN Transmission Limited Partnership and Wskijinu’k Mtmo’taqnuow Agency Limited as limited partners.
Construction is expected to support about 587 direct and indirect jobs and generate $105 million in GDP.
The bank noted it has now committed more than $2.2 billion to 12 projects in Atlantic Canada, including wind farms, energy storage, broadband expansions and industrial energy upgrades.
Natural Resources Canada outlined additional federal support, including $4.38 million for pre‑development work under the Electricity Predevelopment Program and $20.1 million under the Strategic Interties Predevelopment Program.
The department also provided $220,210 to Wskijinu’k Mtmo’taqnuow Agency Limited through the Smart Renewables and Electrification Pathways Program.
Federal ministers, provincial officials, First Nations leaders and regional utilities described the project as a significant step forward in Indigenous participation in clean‑energy development and long‑term regional collaboration.
