Canada Infrastructure Bank Closes C$219 Million Mactaquac Site Development Loan
The loan to NB Power finances engineering, environmental investigations, regulatory reviews and engagement while the hydro station continues operating.
The Canada Infrastructure Bank announced on October 13 that it had reached financial close with New Brunswick Power on a C$219 million loan for early site development supporting the Mactaquac Life Achievement Project. The amount is a closed loan facility, rather than the total cost of the hydroelectric station’s life-extension program.
Eligible development activities include engineering and environmental investigations, regulatory reviews and early supply work. The financing also supports engagement with local First Nations and communities as NB Power advances planning and determines next steps for the site.
Mactaquac is NB Power’s largest hydroelectric generating facility. The 672 MW run-of-river station sits on the Saint John River west of Fredericton, New Brunswick. The bank says development work will take place while the station continues to operate.
The transaction falls within the bank’s Clean Energy priority sector. It finances preparatory work; the announcement does not establish a construction start for the full life-extension program or identify a new open procurement package.
CIB financial-close announcement — October 13, 2026 · Capital. Sources reviewed: October 14, 2026.