EverWind Secures US$175 Million Strategic Investment from Nuveen to Advance Largest Atlantic Canadian Clean Energy Platform

Leading Institutional Investor Backs Over 650 MW Wind Portfolio, Integrated Green Fuels Developments, and Multi-GW Renewables Pipeline

Halifax, Nova Scotia, March 02, 2026 (GLOBE NEWSWIRE) -- EverWind today announced a US$175 million (CAD$240 million) strategic investment from Nuveen Energy Infrastructure Credit, the infrastructure credit investing business that is part of Nuveen, a global asset manager with $1.4 trillion in assets under management. The investment will advance construction of EverWind's 650+ megawatt onshore wind portfolio and support delivery of the Point Tupper Green Fuels Project, positioning Nova Scotia as a major clean energy producer and exporter. The investment by Nuveen’s Energy Infrastructure Credit was made through its Energy Power Infrastructure Credit II (EPIC II) fund, which is anchored by several leading Canadian pension plans and insurance companies underscoring strong Canadian institutional support alongside global capital in financing EverWind’s development.

The transaction represents one of the largest private clean energy investments in Atlantic Canada and marks a pivotal transition from development to construction for one of Canada's most advanced integrated renewable energy platforms. EverWind’s first phase of onshore wind, totalling more than 650 megawatts, represents over $2 billion of total capital investment in Nova Scotia. The transaction validates EverWind's execution readiness while establishing a foundation to support the scaled development of several gigawatts of future renewable energy infrastructure across subsequent phases.

The funding follows extensive technical, commercial, and financial diligence, including technical diligence conducted by DNV, a leading independent energy advisor, and builds on years of investment in engineering, permitting, development, and partnerships.

Transaction Highlights:

• US$175 million strategic (CAD$240 million) investment from Nuveen Energy Infrastructure Credit, marking one of the largest clean energy financings in Atlantic Canadian history and among the largest institutional renewables investments in Canada in 2026
• Over 650 MW of permitted, shovel-ready onshore wind generation across multiple Nova Scotia sites, sufficient to power approximately 200,000 homes annually
• Construction planned to commence 2026 with commercial operations targeted for 2028
• Hundreds of construction jobs and permanent operations positions created at construction start, with significant local procurement and supply chain development in Nova Scotia
• Indigenous consortium led by Membertou First Nation holds majority ownership in Phase 1 wind projects, representing one of Canada's largest Indigenous equity stakes in renewable energy infrastructure
• Integrated platform with multi-gigawatt development portfolio connecting wind generation to Point Tupper, creating long-term clean power demand and enabling green hydrogen and ammonia exports to international markets

Strategic Platform and Staged Deployment

EverWind is advancing its projects through a carefully sequenced, phased development strategy that manages investment and execution risk while building toward a fully integrated clean energy platform. This approach sequences wind generation, grid infrastructure, and green fuels production as interconnected but independently viable stages, with each phase building on demonstrated operational success.

Phase 1 encompasses over 650 megawatts of new onshore wind generation across multiple Nova Scotia project sites. These grid-connected projects will deliver renewable power through Nova Scotia Power's transmission system to the Point Tupper facility, expanding low-cost clean electricity supply for the province. 

The Point Tupper Green Fuels Project, North America’s most advanced green hydrogen facility will anchor significant long-term industrial power demand in Nova Scotia, enabling continued expansion of the province's renewable generation base while establishing Nova Scotia as a globally competitive clean energy supplier and exporter. This will enable future gigawatt scale renewable energy and industrial developments across the province including at EverWind’s site in Point Tupper.

Indigenous Leadership and Economic Reconciliation

EverWind is developing its projects in close partnership with Indigenous communities, with an Indigenous consortium led by Membertou First Nation holding majority ownership in the Phase 1 wind portfolio. This structure represents one of the largest Indigenous equity positions in Canadian renewable energy infrastructure and reflects a shared commitment to economic self-determination, meaningful reconciliation, and long-term environmental stewardship.

The partnership ensures Indigenous communities benefit directly from project economics, employment opportunities, and local procurement. It also embeds Indigenous leadership in project development and long-term decision-making.

Economic Impact and Provincial Benefits

EverWind’s Phase 1 wind portfolio is expected to deliver significant economic and community benefits across Nova Scotia, including:

Job creation and workforce development:

• Approximately 500 jobs and contracting opportunities during construction, supporting local skilled trades, suppliers, and service providers.
• Approximately 100 long-term positions during operations, including roles in operations, maintenance, and administration, creating stable careers in rural communities.

Strong GDP contribution:

• Hundreds of millions of dollars in GDP generated during construction and early operations.
• Significant indirect economic activity through local procurement, supply-chain development, and community investment.

Long-term fiscal and community benefits:

• More than $250 million in provincial taxes and payments.
• More than $250 million in municipal payments to host communities.
• More than $20 million in direct community benefits, supporting local priorities and long-term prosperity.

Catalyst for growth and export leadership:

• When combined with the Point Tupper green fuels facility, the integrated platform is expected to generate billions of dollars in direct and indirect economic activity during construction and initial operations.
• Positions Nova Scotia as a national leader in clean energy development and a key player in Canada’s emerging green fuels export sector.

Quotes:

“Nuveen’s investment is a major step forward for EverWind and a strong vote of confidence in Nova Scotia as a place where serious clean energy infrastructure can be built. It converts years of development work into shovel-ready execution, creating substantial procurement opportunities for Nova Scotian suppliers, hundreds of construction jobs, and long-term skilled roles in rural communities. This investment clearly signals that major institutional capital is choosing to back large-scale clean power infrastructure in Nova Scotia, bringing outside investment into the province and Canada. By investing at this scale, our project will generate long-term economic and community benefits, including municipal and provincial tax revenues and direct community contributions.”

— Trent Vichie, CEO and Founder, EverWind

“This investment reflects our conviction in EverWind's capabilities and strategic vision in developing commercially economic clean energy projects that support the global energy transition. The technical and commercial rigor underpinning these projects, validated through extensive independent diligence, gives us confidence in their execution readiness and long-term value creation potential. EverWind's phased approach—advancing proven wind generation while building toward green fuels production—aligns with our infrastructure strategy of backing scalable platforms that can deliver both near-term cash flows and multi-decade growth.”

— Don Dimitrievich, Portfolio Manager, Nuveen Energy Infrastructure Credit

“This financing marks a significant step forward in delivering clean energy projects that Indigenous communities are helping lead and shape. It signals confidence in the strength of the partnership, the quality of the work completed to date, and the long-term vision behind these developments. For Membertou, participation at this level is about creating enduring economic opportunity while ensuring projects are developed with care, accountability, and respect for Mi’kma’ki. We are proud to stand alongside EverWind and Nuveen in advancing infrastructure that will benefit our community and the province for decades to come.”

— Chief Terry Paul, Membertou First Nation

-30-

Transaction Advisors

White & Case LLP and McInnes Cooper acted as legal counsel to EverWind. Paul Hastings LLP acted as legal counsel to Nuveen. DNV, a leading independent energy and technical advisor, provided technical due diligence.

About EverWind

EverWind is a Nova Scotia-based Canadian company developing North America’s first large-scale green hydrogen and ammonia production facility, focused on building renewable power projects and green fuels production facility that create long-term economic benefits for communities and Indigenous partners.

Forward-Looking Statements

This press release contains forward-looking statements regarding future events and the future performance of EverWind. These statements are based on current expectations and assumptions and involve risks and uncertainties. Actual results may differ materially from those expressed or implied in such statements. Forward-looking statements include, but are not limited to, statements regarding construction timelines, operational targets, job creation estimates, economic impacts, and project development phases. Factors that could cause actual results to differ include regulatory approvals, permitting timelines, construction execution, commercial agreements, financing availability, and market conditions. EverWind undertakes no obligation to update these forward-looking statements except as required by law.

Claire Parsons EverWind (902) 877-5125 claire.parsons@everwindfuels.com