Canada Infrastructure Bank closes loan for Nunavut wind project serving gold mine

Hope Bay, Nunavut — The Canada Infrastructure Bank has terminated a $20-million loan for an Inuit-led wind project serving a gold mine in Nunavut. The project, a collaboration between the Kitikmeot Inuit Association and Tugliq Energy, would have featured a 4.2-megawatt wind turbine and a four-megawatt battery energy storage system to power Agnico Eagle Mines Ltd.'s operations in Hope Bay.

This initiative aimed to reduce annual diesel consumption by up to three million litres and decrease emissions by 13,000 tonnes per year. Natural Resources Canada had already provided $25 million to the project through its Smart Renewables and Electrification Pathways program. Agnico Eagle had given the final approval to proceed with the Hope Bay project in May, which would have been one of Canada's most northern mines.

The infrastructure bank projected the project would create 15 jobs during peak construction and offer long-term benefits to local communities through profit-sharing. This marks the second Nunavut project for the federal agency, following a $6.7-million loan for a wind project in Sanikiluaq. Agnico Eagle had previously attempted to build a wind farm near another mine in the territory, Meliadine, but the proposal faced community opposition and was ultimately rejected by the Nunavut Impact Review Board. This report by The Canadian Press was initially published on September 9, 2026.