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Canada Infrastructure Bank closes loan for Nunavut wind project serving gold mine
The project is expected to cut diesel use by up to 3 million litres a year and reduce emissions by about 13,000 tonnes, the bank said.
- The Canada Infrastructure Bank closed a $20 million loan for an Inuit-led wind project in Nunavut, powering Agnico Eagle Mines Ltd.'s operations at Hope Bay.
- Partners Kitikmeot Inuit Association and Tugliq Energy aim to provide long-term community benefits through profit-sharing while employing 15 people during peak construction.
- Featuring a 4.2-megawatt wind turbine and four-megawatt battery energy storage system, the project will reduce annual diesel consumption by three million litres and lower emissions by 13,000 tonnes.
- Natural Resources Canada previously contributed $25 million to Hope Bay through its Smart Renewables and Electrification Pathways program, marking the agency's second Nunavut investment after a $6.7 million Sanikiluaq loan.
- Agnico Eagle received approval for Hope Bay in May, though prior plans for a wind farm at its Meliadine site were withdrawn after the Nunavut Impact Review Board recommended rejection.
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The Toronto Star+10 Reposted by 10 other sources
Canada Infrastructure Bank closes loan for Nunavut wind project serving gold mine
HOPE BAY, NVT. - The Canada Infrastructure Bank has closed a $20-million loan for an Inuit-led wind project serving a gold mine in Nunavut.
·Toronto, Canada
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Infrastructure Bank closes $20-million loan for Nunavut wind project serving Agnico Eagle mine
The Canada Infrastructure Bank has closed a $20-million loan for an Inuit-led wind project serving a gold mine in Nunavut. The recipient of the loan is a partnership between the Kitikmeot Inuit Association and Tugliq Energy. The project includes a 4.2-megawatt wind turbine and a four-megawatt…
Reduction in diesel consumption, advancement of Inuit ownership and economic prospects in the Arctic Long-term revenues forecasted for
·Montreal, Canada
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Coverage Details
Total News Sources15
Leaning Left7Leaning Right0Center2Last UpdatedBias Distribution78% Left
Bias Distribution
- 78% of the sources lean Left
78% Left
L 78%
C 22%
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