CIB makes inaugural Nunavut investment in wind energy and storage project

AI Article Summary
The Canada Infrastructure Bank (CIB) has made its first investment in Nunavut, with a $6.7 million loan to support the Anuriqjuak Nukkiksautiit Project in Sanikiluaq. This initiative includes a 1-megawatt wind turbine and energy storage, aiming to replace 70% of the community's diesel use with renewable energy. The project is expected to significantly reduce emissions, lower electricity costs, and bring important social and economic benefits to the region. The investment is part of CIB's broader efforts to enhance energy security and sustainability in Canada's Far North.