Paragraph 1: Port Hawkesbury Paper Secures Future Energy with Wind Power Investment
Port Hawkesbury Paper, a vital economic engine in Cape Breton, Nova Scotia, has secured its future energy needs through a significant investment in renewable wind power. The company, along with its parent company Stern Partners, has successfully finalized the financing for the Goose Harbour Lake wind farm, a $450 million project that will supply approximately 60% of the paper mill’s annual electricity requirements. This substantial investment marks a critical step towards ensuring the long-term sustainability and competitiveness of the mill, which plays a crucial role in the regional economy. The project’s completion has been facilitated by a $224.2 million loan from the Canada Infrastructure Bank, demonstrating the government’s commitment to supporting green energy initiatives and bolstering key industries.
Paragraph 2: Goose Harbour Lake Wind Farm: A Collaborative Green Energy Project
The Goose Harbour Lake wind farm is a landmark project not only for its size and impact but also for its collaborative approach. The project incorporates a significant Indigenous ownership component, with 13 Mi’kmaq First Nations holding a 10% stake. This partnership showcases the potential for economic reconciliation and shared prosperity through sustainable development. The wind farm will consist of 24 Nordex turbines, strategically placed on land owned by the paper company in Guysborough County, across the Strait of Canso from the paper mill. Slated to begin operations in late fall 2026, the wind farm is projected to generate 168 megawatts of clean electricity, significantly reducing the mill’s reliance on traditional energy sources and its carbon footprint.
Paragraph 3: Environmental and Economic Benefits of the Wind Farm
The Goose Harbour Lake wind farm offers a dual benefit of reducing greenhouse gas emissions and supporting local economic activity. The project is estimated to decrease emissions by over 350,000 tonnes annually, equivalent to 2.4% of Nova Scotia’s total emissions in 2021. This substantial reduction aligns with provincial and national targets for combating climate change and transitioning to a cleaner energy future. Furthermore, the project will contribute to the economic stability of the region by supporting the existing workforce at Port Hawkesbury Paper and creating new opportunities in the renewable energy sector.
Paragraph 4: Port Hawkesbury Paper: A Vital Contributor to the Regional Economy
Port Hawkesbury Paper is a major employer in Cape Breton, directly employing approximately 325 people and supporting an additional 900 contracted jobs. The company’s operations also provide income for hundreds of forestry contractors and suppliers, forming a vital link in the regional economic ecosystem. The mill produces paper for magazines and catalogues, serving a significant market both domestically and internationally. The investment in the Goose Harbour Lake wind farm reinforces the company’s commitment to its long-term viability and its role as a cornerstone of the local community.
Paragraph 5: Stern Partners’ Role in the Revitalization of Port Hawkesbury Paper
The current success of Port Hawkesbury Paper can be attributed, in part, to the intervention of Stern Partners, a Vancouver-based investment firm. Stern Partners acquired and restructured the paper company in 2012 through the Companies’ Creditors Arrangement Act, facilitating the resumption of production and securing the future of the mill. Their commitment to the long-term health of the company is evident in their investment in the Goose Harbour Lake wind farm, a project that underscores their focus on sustainable and responsible business practices.
Paragraph 6: The Future of Port Hawkesbury Paper and the Importance of Sustainable Investments
This wind farm project represents a significant milestone not just for Port Hawkesbury Paper but for the broader transition to a more sustainable industrial landscape. By securing its electricity needs through renewable wind power, the mill becomes a model for other energy-intensive industries seeking to reduce their environmental impact while strengthening their economic competitiveness. The collaboration between government, private industry, and Indigenous communities demonstrates the potential for impactful partnerships in driving forward the clean energy agenda and ensuring a more sustainable future for all. The Goose Harbour Lake wind farm stands as a testament to the potential of innovative solutions and long-term planning in achieving both economic prosperity and environmental stewardship.
