Nova Scotia's Green Leap: $175M Deal Fuels Clean Energy Export Dream

HALIFAX, NS – March 03, 2026 – A landmark US$175 million investment is set to catapult Nova Scotia to the forefront of Canada's clean energy ambitions, transforming years of planning into a flurry of construction activity. EverWind, a Nova Scotia-based energy developer, announced it has secured the strategic financing from Nuveen Energy Infrastructure Credit, a division of the global asset management giant. The capital injection marks one of the largest private clean energy investments in Atlantic Canadian history and signals the official transition from development to construction for a project poised to redefine the region's economic and environmental future.

The funds are earmarked to advance EverWind's 650+ megawatt onshore wind portfolio, a critical power source for its flagship Point Tupper Green Fuels Project. This integrated platform aims not only to supply clean electricity to the province but also to establish Nova Scotia as a major global exporter of green hydrogen and ammonia, placing the region at the center of the international energy transition.

A Financial Jolt for Atlantic Canada's Clean Energy Ambitions

The US$175 million (CAD$240 million) deal is more than just a financial transaction; it's a powerful vote of confidence from the global financial community in Atlantic Canada's potential as a hub for renewable energy. Nuveen, with $1.4 trillion in assets under management, deployed the capital through its Energy Power Infrastructure Credit II (EPIC II) fund, which is notably anchored by several major Canadian pension plans and insurance companies. This blend of global capital and domestic institutional support underscores the project's perceived stability and national significance.

For Nuveen, the investment aligns perfectly with a strategy focused on backing scalable, long-term infrastructure that supports the global shift to a low-carbon economy. The firm's decision followed an exhaustive due diligence process, including a rigorous technical review by the independent energy advisor DNV, which validated the project's commercial and technical viability.

“This investment reflects our conviction in EverWind's capabilities and strategic vision in developing commercially economic clean energy projects that support the global energy transition,” said Don Dimitrievich, Portfolio Manager for Nuveen Energy Infrastructure Credit. “The technical and commercial rigor underpinning these projects... gives us confidence in their execution readiness and long-term value creation potential.”

The move signals that Atlantic Canada, with its abundant wind resources and strategic port access, is no longer just a region with potential but a credible and attractive destination for the large-scale private capital needed to build the next generation of energy infrastructure.

From Blueprint to Reality: Building a Green Energy Platform

With financing secured, EverWind is now poised to turn its ambitious blueprints into steel in the ground. The initial phase represents a total capital investment of over $2 billion in Nova Scotia. Construction on the multi-site, 650+ megawatt wind portfolio is slated to begin in 2026, with a target for commercial operations in 2028. This new generation capacity is sufficient to power approximately 200,000 homes annually and will be a major contributor to the province's goal of achieving 80% renewable electricity by 2030.

The project's economic impact will be immediate and substantial. An estimated 500 construction jobs will be created, offering significant opportunities for local skilled trades and suppliers. Once operational, the wind farms will support approximately 100 permanent positions in rural communities, providing stable, long-term careers in operations and maintenance.

“Nuveen’s investment is a major step forward for EverWind and a strong vote of confidence in Nova Scotia as a place where serious clean energy infrastructure can be built,” stated Trent Vichie, CEO and Founder of EverWind. “It converts years of development work into shovel-ready execution, creating substantial procurement opportunities for Nova Scotian suppliers, hundreds of construction jobs, and long-term skilled roles in rural communities.”

The wind farms are a critical component of a larger, carefully sequenced strategy. They will provide the renewable electricity needed to power the Point Tupper Green Fuels Project, which is set to become North America’s most advanced green hydrogen and ammonia facility. This integrated approach ensures a dedicated industrial customer for the clean power, enabling the continued expansion of renewable energy generation across the province.

A New Model for Partnership and Reconciliation

Perhaps the most groundbreaking aspect of the EverWind project is its ownership structure. In a move that sets a new standard for economic reconciliation in Canada, an Indigenous consortium led by the Membertou First Nation holds a majority ownership stake in the Phase 1 wind projects. This represents one of the largest Indigenous equity positions in Canadian renewable energy infrastructure, moving far beyond traditional consultation and benefit-sharing agreements.

This partnership embeds Indigenous leadership directly into the project's governance and economic fabric, ensuring communities are not just stakeholders but primary beneficiaries. It provides a direct share of the project's long-term revenue, which can be reinvested into community priorities, while also guaranteeing a central role in decision-making and environmental stewardship.

Chief Terry Paul of the Membertou First Nation emphasized the significance of this collaborative model. “This financing marks a significant step forward in delivering clean energy projects that Indigenous communities are helping lead and shape,” he said. “For Membertou, participation at this level is about creating enduring economic opportunity while ensuring projects are developed with care, accountability, and respect for Mi’kma’ki. We are proud to stand alongside EverWind and Nuveen in advancing infrastructure that will benefit our community and the province for decades to come.”

The partnership is expected to generate over $250 million in provincial and municipal tax payments and more than $20 million in direct community benefits, creating a model for shared prosperity that could be replicated across the country.

Powering a Province and an Export Economy

EverWind's project is a cornerstone of Nova Scotia's Green Hydrogen Action Plan, a provincial strategy launched in 2023 to establish the region as a global leader in the production and export of green fuels. The Point Tupper facility, powered by the new wind farms, will use electrolysis to split water into hydrogen and oxygen, then combine the green hydrogen with nitrogen to create green ammonia—a stable, easily transportable carrier for hydrogen.

This green ammonia is destined for international markets, where demand is surging from countries in Europe and Asia seeking to decarbonize their heavy industry and power sectors. By anchoring this massive industrial demand, the project not only creates a valuable export commodity but also justifies the gigawatt-scale expansion of renewable energy in the province.

The project provides a dual benefit: it will help decarbonize Nova Scotia's own grid while simultaneously establishing a lucrative export sector. When fully realized, the integrated platform is projected to generate billions of dollars in economic activity, cementing Nova Scotia's position as a national leader in the clean energy transition and a key player in Canada’s future as a green fuels exporter.