The CIB’s first opportunity in Nunavut supports renewable energy and broadband connectivity.
OTTAWA – February 5, 2020- The Canada Infrastructure Bank (CIB) announced today the signing of a Memorandum of Understanding (MOU) for the proposed Kivalliq Hydro-Fibre Link to Nunavut from Manitoba. The proposed project would provide renewable, sustainable and reliable hydroelectricity and broadband connectivity to communities and industry for the first time.
The MOU confirms the CIB will work with the Kivalliq Inuit Association (KIA), Sakku Investments Corporation (Sakku), Anbaric Development Partners (Anbaric) and Ontario Teachers’ Pension Plan (OTPP) on planning and development of the proposed project.
The CIB’s advisory role is consistent with its commitment to collaborate with the private and public sectors with a long-term vision in mind – being a catalyst for new, transformational infrastructure benefitting Canada.
“This is the CIB’s ninth project, the first one to connect two jurisdictions and two priority sectors – green infrastructure and broadband. The CIB is excited to be part of the planning and assessment of a project focused on Nunavut’s environment and its economy,” said Pierre Lavallée, President and CEO, Canada Infrastructure Bank.
The proposed Kivalliq Hydro-Fibre Link involves the construction of a new 1,200-kilometre, 150-megawatt transmission line between Nunavut and Manitoba. The project would deliver renewable, sustainable and reliable hydroelectricity energy to the region. It also aims to reduce the area’s dependence on diesel power generation using shipped-in fuel. The hydroelectric transmission line would provide five Kivalliq communities and several mine sites with environmentally sustainable energy and has the potential to create economic benefits for Nunavut.
Fibreoptic cabling is also included in the project. This would bring broadband connectivity to the region for the first time, enhancing telecommunications services for residents, businesses and public services.
Benefits of the CIB’s Involvement
The CIB engages and builds relationships with all levels of government, Indigenous communities and private and institutional investors. It is uniquely positioned to conduct market analysis and provide specialized commercial and investment expertise, including innovative financial modeling, project structuring and procurement options to support project sponsors. The CIB’s Advisory and Investment team has specialized infrastructure insights in all the CIB’s priority sectors (green infrastructure, trade and transportation, transit and broadband).
Kono Tattuinee, President of the Kivalliq Inuit Association, acknowledged the significance of the partnership: “Inuit are proud to be driving this transformative, national infrastructure project. Together we are creating something that will bring lasting economic and environmental benefits to Nunavut and all of Canada.”
For his part, Minister of Northern Affairs, Daniel Vandal noted: “Northerners must be part of long-term solutions that address both local concerns and global challenges. The Inuit-led Kivalliq Hydro-Fibre Link project would bring clean energy and connectivity to Nunavummiut in five communities and to two operating mines. Our government is proud to support the collaboration of northern partners – particularly Indigenous partners – along with private-sector investment. This is an example of working together to unlock northern potential and advance the process of reconciliation.”
• The proposed project would create an opportunity for Nunavut to increase the use of renewable, sustainable and reliable hydroelectricity in Canada’s north.
• The project would also bring broadband connectivity to the region for the first time, enhancing telecommunications services for residents, businesses and public service delivery.
• The CIB is a Crown corporation mandated to invest $35 billion in federal funding and attract private sector investment into new revenue-generating infrastructure projects.
• The CIB is focused on transformational projects that are in the public interest.
Canada Infrastructure Bank
c/o Chadwick Consulting Ltd.
Kivalliq Inuit Association