Canada Infrastructure Bank in talks to finance $1.2 B northern hydroelectric project

Canada, Ottawa: The Canada Infrastructure Bank has been in talks with the proponents of a $1.2 B hydroelectric transmission line that would supply emissions-free power to a handful of communities and two major mines in Nunavut, according to a person familiar with the discussions.

Both the bank and the federal government have been in talks over the past year to help finance the Kivalliq Hydro-Fibre Link project, a transmission line leading 900 km from northern to eastern Manitoba.

The government touched upon the potential investment — for which details are still to be arranged — in its annual budget on Tuesday. It said the bank had “identified” hydropower and electric transmission lines as areas of interest as it gradually puts into motion its $35 B spending plans, and singled out “northern communities” as potential regions where the bank could invest.

The proposal to build the Kivalliq Hydro-Fibre Link is being led by a partnership between the Kivalliq Inuit Association and Anbaric Development Partners.

Source: National post