The Mersey River Wind project has secured full financing, marking a significant step forward for both the 148.5‑megawatt development and the future of Nova Scotia’s electricity market.
Renewall Energy Inc., a partner in the project, emphasized that it now holds the province’s first and only renewable‑to‑retail licence, allowing it to sell electricity directly to consumers and introduce competition into a market historically served by a single utility.
“This will offer Nova Scotians choice in where they buy their power,” Premier Tim Houston said at Thursday’s announcement in Queens County. “It’s competition added to our province… and those are things that are always good.”
The Canada Infrastructure Bank confirmed a $206‑million loan to support the project, alongside additional federal programs including up to 30 per cent support through the Clean Technology Investment Tax Credit and $25 million from Natural Resources Canada’s Smart Renewables and Electrification Pathways program. Federal ministers said the investment will help prevent an estimated 220,000 tonnes of emissions annually and provide enough clean electricity to power more than 50,000 homes.
While the funding was a key focus of the event, Renewall underscored the broader significance of its retail licence. Dan Roscoe, the company’s president, said the ability to sell renewable electricity directly to households, businesses, and public institutions represents a major shift in how Nova Scotians can access power.
“Customers of Renewall will benefit from stable, long-term pricing for clean electricity,” Roscoe told reporters. He said rates will be competitive with Nova Scotia Power’s, “with the benefit that they will be locked in over the long term.”
Roscoe said the licence is the culmination of more than four years of work and positions Nova Scotia to keep more of its energy spending within the province. He referenced earlier studies showing billions of dollars leave the province each year to pay for imported fossil‑fuel‑based energy. “Today marks a turning point… This is about keeping more of our energy dollars at home and building an energy system that serves Nova Scotians first,” he said.
Renewall currently has 32 commercial and industrial customers committed and says homeowners and businesses can already sign up through its website. Customers will begin transitioning once the first turbines begin producing electricity, which is expected late this year. The company says 20 turbines are planned for installation first, with the remaining 13 targeted for 2027.
The project will tie into existing grid infrastructure near the former Bowater mill, with only a few kilometres of new transmission line required. Renewall will pay regulated tariffs for use of the provincial transmission and distribution system to deliver power to customers.
Houston said he expects Renewall’s entry to create new opportunities for both producers and customers. “There hasn’t been true choice. It’s been a monopoly for a long time,” he said. “As soon as you can introduce a true choice for consumers, that’s a good thing… It will open the eyes of producers and customers to what’s possible.”
Roscoe closed his remarks by describing the project as a foundation for long-term economic and environmental benefits. “Being bold in utilizing our renewable resources will benefit Nova Scotians for generations to come,” he said. “The dream has finally become a reality.”
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