EverWind has secured a $240-million strategic investment to advance the first phase of its Point Tupper Green Fuels Project in Nova Scotia, marking a key step toward a broader $2-billion wind and hydrogen development. Construction on the initial wind phase is expected to ramp up later this year, with operations targeted for 2028.
BNN Bloomberg spoke with Trent Vichie, CEO of EverWind, about the financing from Nuveen Energy Infrastructure Credit, the project’s construction timeline and its partnership with Membertou First Nation and other Indigenous communities.
Key Takeaways
- A $240-million equity investment will fund the first 650-megawatt phase of an onshore wind project tied to a larger $2-billion development.
- Wind facilities are expected to begin operating in 2028, supplying power to Nova Scotia’s grid and supporting hydrogen production.
- Hydrogen output is aimed at domestic and international markets, with European demand supported through a policy framework.
- Membertou First Nation and two other First Nations hold majority ownership in the wind project, highlighting Indigenous-led participation in energy infrastructure.
- The development is expected to generate about $1 billion in local contracts, create roughly 100 permanent jobs and deliver significant provincial and municipal tax revenue over its lifespan.
Read the full transcript below:
ROGER: EverWind has secured a $240-million strategic investment to support delivery of the Point Tupper Green Fuels Project from Nuveen Energy Infrastructure Credit. Here to tell us more about the deal and what it means for the company and Nova Scotia’s clean energy sector is EverWind CEO Trent Vichie. Trent, thank you for joining us.
TRENT: Thank you.
ROGER: Let’s talk about the project itself. There are two aspects to it. How will they unfold?
TRENT: The first phase of the project is 650 megawatts of onshore wind in Nova Scotia. The second part is a green hydrogen plant at our site in Nova Scotia.
ROGER: When will construction start, and what will this money be used for?
TRENT: This investment is for the first phase of wind. We have started pre-construction work already. The projects have been in development for the past three and a half years, and full construction is expected to begin later this year as we finalize interconnection and other contractual requirements. We have four sites ready to go. Overall, it is about a $2-billion project, and we will be kicking off that broader investment while crews are already on the ground preparing.
RYAN: When the project is completed, likely toward the latter part of this decade, where will the power go? Will it serve the Nova Scotia market, or is export to the United States part of the plan?
TRENT: The power will go into the Nova Scotia market and be connected to the grid. Some excess power could flow into neighbouring Canadian provinces. Once the hydrogen plant is operational, the wind power will be used to produce hydrogen for both domestic and international markets. The wind facilities are expected to begin operating in 2028.
ROGER: And with the hydrogen, do you already have a market lined up?
TRENT: Yes, it has been set up under a support scheme in Europe.
ROGER: You also have Indigenous involvement in this project. They are majority owners?
TRENT: Membertou First Nation, along with two other First Nations, are majority owners of the wind project. We have worked with them since the project’s inception, and they have been strong partners. The project represents meaningful economic reconciliation. It is also expected to generate about $1 billion in local contracts in Nova Scotia, create roughly 100 permanent jobs, and deliver approximately $500 million in provincial and municipal tax benefits over the life of the project. In addition to this first phase, we have another 2.5 gigawatts under development for future phases.
RYAN: There is not a lot of offshore wind development on the East Coast of North America. Have you faced challenges in procurement or operations in what is still a relatively new area?
TRENT: Our project is onshore wind. Nova Scotia already has significant onshore wind in place, and we are expanding on that. In terms of procurement, the U.S. wind market has been softer, which has created opportunities for us to secure equipment and turbines. We are one of the few active markets in North America right now, so we are receiving strong interest from suppliers.
ROGER: Nuveen is a large global investor. What attracted them to this project?
TRENT: I have had a relationship with Nuveen for about 20 years. They were an anchor investor in a firm I co-founded previously. They are a major player in energy infrastructure. The fund providing the capital is backed by large Canadian pension funds, so there is alignment in having Canadian institutional capital investing in infrastructure in Canada. We have also spent the past three and a half years advancing the project to a stage where institutional investors can participate.
ROGER: Do you need to raise additional funds?
TRENT: This investment represents equity. Our First Nations partners will also contribute equity. The balance will come from traditional project finance debt, and that process is underway.
ROGER: Trent, thank you for your time.
TRENT: Thank you.
ROGER: That was Trent Vichie, CEO of EverWind.
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This BNN Bloomberg summary and transcript of the March 3, 2026 interview with Trent Vichie are published with the assistance of AI. Original research, interview questions and added context was created by BNN Bloomberg journalists. An editor also reviewed this material before it was published to ensure its accuracy and adherence with BNN Bloomberg editorial policies and standards.
