EverWind secures strategic investment from Nuveen

The transaction represents one of the largest private clean energy investments in Atlantic Canada and marks a pivotal transition from development to construction for one of Canada’s most advanced integrated renewable energy platforms. EverWind’s first phase of onshore wind, totalling more than 650 MW, represents over US$2 billion of total capital investment in Nova Scotia. The transaction validates EverWind’s execution readiness while establishing a foundation to support the scaled development of several gigawatts of future renewable energy infrastructure across subsequent phases.

The funding follows extensive technical, commercial, and financial diligence, including technical diligence conducted by DNV, a leading independent energy advisor, and builds on years of investment in engineering, permitting, development, and partnerships.

EverWind is advancing its projects through a carefully sequenced, phased development strategy that manages investment and execution risk while building toward a fully integrated clean energy platform. This approach sequences wind generation, grid infrastructure, and green fuels production as interconnected but independently viable stages, with each phase building on demonstrated operational success.

Phase 1 encompasses over 650 MW of new onshore wind generation across multiple Nova Scotia project sites. These grid-connected projects will deliver renewable power through Nova Scotia Power’s transmission system to the Point Tupper facility, expanding low-cost clean electricity supply for the province.

The Point Tupper Green Fuels Project, North America’s most advanced green hydrogen facility will anchor significant long-term industrial power demand in Nova Scotia, enabling continued expansion of the province’s renewable generation base while establishing Nova Scotia as a globally competitive clean energy supplier and exporter. This will enable future gigawatt scale renewable energy and industrial developments across the province including at EverWind’s site in Point Tupper.

EverWind is developing its projects in close partnership with Indigenous comunities, with an Indigenous consortium led by Membertou First Nation holding majority ownership in the Phase 1 wind portfolio. This structure represents one of the largest Indigenous equity positions in Canadian renewable energy infrastructure and reflects a shared commitment to economic self-determination, meaningful reconciliation, and long-term environmental stewardship.

The partnership ensures Indigenous communities benefit directly from project economics, employment opportunities, and local procurement. It also embeds Indigenous leadership in project development and long-term decision-making.

EverWind’s Phase 1 wind portfolio is expected to deliver significant economic and community benefits across Nova Scotia, including:

• Job creation and workforce development:
  • Approximately 500 jobs and contracting opportunities during construction, supporting local skilled trades, suppliers, and service providers.
  • Approximately 100 long-term positions during operations, including roles in operations, maintenance, and administration, creating stable careers in rural communities.
• Strong GDP contribution:
  • Hundreds of millions of dollars in GDP generated during construction and early operations.
  • Significant indirect economic activity through local procurement, supply-chain development, and community investment.
• Long-term fiscal and community benefits:
  • More than US$250 million in provincial taxes and payments.
  • More than US$250 million in municipal payments to host communities.
  • More than US$20 million in direct community benefits, supporting local priori-ties and long-term prosperity.
• Catalyst for growth and export leadership:
  • When combined with the Point Tupper green fuels facility, the integrated plat-form is expected to generate billions of dollars in direct and indirect economic activity during construction and initial operations.
  • Positions Nova Scotia as a national leader in clean energy development and a key player in Canada’s emerging green fuels export sector.

“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. 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. This investment clearly signals that major institutional capital is choosing to back large scale clean power infrastructure in Nova Scotia, bringing outside investment into the province and Canada. By investing at this scale, our project will generate long-term economic and community benefits, including municipal and provincial tax revenues and direct community contributions,” said Trent Vichie, CEO and Founder, EverWind.

“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. The technical and commercial rigour underpinning these projects, validated through extensive independent diligence, gives us confidence in their execution readiness and long-term value creation potential. EverWind’s phased approach – advancing proven wind generation while building toward green fuels production – aligns with our infrastructure strategy of backing scalable platforms that can deliver both near-term cash flows and multi-decade growth,” added Don Dimitrievich, Portfolio Manager, Nuveen Energy Infrastructure Credit.

“This financing marks a significant step forward in delivering clean energy projects that Indigenous communities are helping lead and shape. It signals confidence in the strength of the partnership, the quality of the work completed to date, and the long-term vision behind these developments. 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,” concluded Chief Terry Paul, Membertou First Nation.

 

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