On October 23, 2025, the Mersey River Wind Project reached financial close, marking the first project to close under the Nova Scotia Renewable to Retail (RtR) Program and one of the largest wind project financings to close in Nova Scotia. The 148.5 MW wind project is being developed by Roswall Developments and Slate Infrastructure, in partnership with co-investor Hamilton Lane, through Mersey River Wind Inc. The total cost of the Mersey Wind Project across Phases 1 to 3 is approximately $532.6 million. The Royal Bank of Canada has committed financing of approximately $136.6 million for Phases 1 and 2 and $91.9 million for Phase 3, while the Canada Infrastructure Bank has committed approximately $128.7 million for Phases 1 and 2 and $77.7 million for Phase 3.

The RtR Program is designed to allow independent licensed electricity retailers to sell renewable electricity directly to businesses and residents. The Mersey River Wind Project entered into a wholesale power purchase agreement with the RtR licensed retailer Renewall, the main offtaker and licensed electricity retailer, which has in turn entered into retail power purchase agreements with the ultimate commercial and industrial customers. Notable public customers include the Regional Municipality of Halifax, the Region of Queens County, the Town of Bridgewater, and the Municipality of the District of Shelburne.

Stikeman Elliott LLP represented the Royal Bank of Canada as senior lender, administrative agent, and hedge provider. McCarthy Tétrault LLP acted as lead counsel to Mersey River Wind Inc. and sponsor Slate Infrastructure. Stewart McKelvey acted as local counsel to the borrower and sponsor. McInnes Cooper acted as legal counsel to the Canada Infrastructure Bank. Cox & Palmer acted as counsel to the Developer (Roswall Development).