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- Agnico Eagle received approval for Hope Bay in May, though prior plans for a wind farm at its Meliadine site were withdrawn after the Nunavut Impact Review Board recommended rejection.
21 Articles
21 Articles
Hope Bay Wind Project In Nunavut Receives $20M CIB Loan
HOPE BAY — The Canada Infrastructure Bank (CIB) has reached financial close on a $20 million project loan to the Kitikmeot Tugliq Limited Partnership (KTLP), an Inuit-led partnership between the Kitikmeot Inuit Association (KitIA) and Tugliq Energy, to advance the Hope Bay Wind Project. The project is a renewable energy initiative that aims to supply power to Agnico Eagle Mines Limited’s (Angico Eagle) Hope Bay operation in Nunavut’s Kitikmeot R…
The Toronto Star
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.
Kitikmeot Inuit Association, Tugliq Energy to receive $20M loan for wind project
The Canada Infrastructure Bank is loaning $20 million to a Montreal-based company and the Kitikmeot Inuit Association’s business development arm for a wind energy project near Agnico Eagle Mines Ltd.’s Hope Bay gold mine site. The bank announced the loan Wednesday in a news release. The first phase of the project will see 4.2-megawatt wind turbine and a four-megawatt energy storage system installed next to the mine, which is located about 125 ki…
Coverage Details
Bias Distribution
- 57% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
