MU2 will be equipped with Nordex turbines and is expected to supply electricity to 20,000 homes.
Located in the Gaspésie–Îles-de-la-Madeleine region, which stretches across the Gaspé Peninsula and parts of New Brunswick, MU2 is a joint venture between the Mi’gmawei Mawiomi Business Corporation (MMBC), representing three local Mi’gmaq communities, and Innergex Renewable Energy. The project is scheduled to begin operations in late 2026.
MU2 was the only project among two provincial tenders for 780MW of renewable energy that included an Indigenous partner as a sponsor. The CIB's contribution includes C$15.8 million as an equity loan to increase MMBC’s ownership in the project, and C$92.5 million allocated for construction financing.
Further financial support includes a green loan of C$163.9 million, along with additional backing from Canadian financial institutions such as CIBC, Desjardins, and the National Bank of Canada.
CIB CEO Ehren Cory commented: “With our first investment in a Quebec wind energy project, the CIB is helping another province expand its clean electricity production and expand the capacity of its grid. This aligns with our mandate to support meaningful Indigenous economic and social development while investing in clean power opportunities.”
MU2 is located on traditional Mi’gmaq territory near Rivière-Nouvelle and builds on the success of its predecessor, the 150MW Mesgi’g Ugju’s’n 1 (MU1) wind farm. Like MU1, MU2 is based on a 50-50 partnership between MMBC and Innergex.
The new project will be equipped with Nordex turbines and is expected to generate electricity for approximately 20,000 homes. Through a long-term power purchase agreement with Hydro-Quebec, MU2 is projected to reduce carbon emissions by about 153,053 tonnes annually.
Construction of MU2 will create approximately 150 direct jobs, with at least 30% of the workforce drawn from nearby Mi’gmaq communities. Revenue generated from the project will be reinvested into local initiatives to support regional development.
MMBC CEO Frederic Vicaire stated: “MU2 reflects the maturity and determination of our communities to lead impactful energy development on our own terms. This partnership with Innergex and the support from the CIB demonstrate that Indigenous-led projects can be scalable, bankable and rooted in long-term vision.”
In addition, in March 2025, CIB also announced a separate investment of C$117.4 million (US$81.9 million) to fund the construction of the 94.4MW Weavers Mountain wind project in Nova Scotia.
