Latest news with #Cory
Winnipeg Free Press
an hour ago
- Business
- Winnipeg Free Press
Infrastructure Bank CEO says it's ready to play a role in national-interest projects
CALGARY – The chief executive of the Canada Infrastructure Bank says the Crown corporation is looking forward to playing a role in Ottawa's ambitions to push ahead major projects deemed in the national interest. 'I think we're on the precipice of a really important time for our country,' said Ehren Cory. 'We're just one tool in the tool kit of that. We are far from the only part of the solution, but we're looking forward to playing our part in meeting the challenge that we face as a country.' U.S. President Donald Trump's on-again-off-again tariffs have forced Canada to rethink its relationship with its biggest trading partner and seek out ways to get resources and other goods to global markets. Key themes in this spring's federal election campaign were the creation of 'trade corridors' and other ways to remove the regulatory, legal and political logjams that have for several years prevented big projects from being built. The Liberal government has promised to put a two-year cap on the approval process for key projects. Prime Minister Mark Carney met with premiers in Saskatoon this week to talk over some of the nation-building projects on their wish lists. The infrastructure bank has already been involved in the planning around two contenders Carney rattled off to reporters after the meeting — the Pathways Alliance oilsands carbon capture and storage project in Alberta, and the Grays Bay Port and Road in the central Arctic. Cory said the bank has not yet received any updated direction from its owner, the federal government, since the April 28 election delivered the Liberals back to power with a minority government. 'They set out priorities,' he said. 'We go find deals.' The infrastructure bank, created in 2017 with $35 billion in capital, invests in revenue-generating projects that are deemed to be in the public good, but would have trouble getting off the ground with private-sector money alone. To date, it has made $5 billion in clean power investments and put $1 billion toward Indigenous-led projects. In the coming week, it is set to close its 100th deal. The bank operates at arm's-length from the federal government, which sets out broad priorities. As its stands, its priority sectors include public transit, clean power, green infrastructure, broadband and trade and transportation. Monday Mornings The latest local business news and a lookahead to the coming week. Cory said it's not up to the bank to decide whether new oil pipelines, for example, would be investments worth pursuing. But if they are, he said, the bank is 'a potential tool to doing more of them because they have the classic hallmarks of infrastructure projects.' Like many big infrastructure projects, pipelines require huge upfront investment, have long payback periods and tend to have a lot of uncertainty getting off the ground. 'And that's very hard for the private sector alone to manage and absorb,' Cory said. 'That's the kind of shock absorber that the (infrastructure bank) can be.' This report by The Canadian Press was first published June 5, 2025.
Yahoo
2 days ago
- Business
- Yahoo
CIB loans $97 million towards new energy project, Wedgeport Wind
Financing agreement will support more renewable energy in Nova Scotia Disponible en français Elemental Energy's partners include Sipekne'katik First Nation and Stevens Wind 85 jobs created during construction and full-time jobs to support operations 12 wind turbines to provide 84 megawatts of electricity to the region HALIFAX, NS, June 5, 2025 /CNW/ - The Canada Infrastructure Bank (CIB) and Elemental Energy have reached financial close on a $97 million loan to support a new wind energy project, Wedgeport Wind, located in the Municipal District of Argyle, Nova Scotia. The project includes construction and installation of 12 Nordex seven-megawatt wind turbines with the capacity to generate up to 84 megawatts of renewable energy. The development also includes construction of transmission and interconnection infrastructure, to link new renewable energy to the provincial power grid. This added electricity capacity will supply more than 30,000 homes and businesses throughout the region with reliable, low-cost energy. The project is expected to support up to 85 jobs at the peak of construction, with additional full-time employment opportunities for operations and maintenance. Wedgeport Wind is a partnership between Elemental Energy, Stevens Wind and Sipekne'katik First Nation (SFN). The partners have retained the Mi'kma'ki Municipal Limited Partnership (MMLP), a partnership between Wskinjnu'k Mtnm'tanqunuow Agency Limited (WMA) and the Municipal Group of Companies to construct the project. WMA is an economic development organization representing all 13 Mi'kmaq communities in Nova Scotia and through this partnership, MMLP is committed to maximizing Mi'kmaq participation in projects through workforce creation, local development and training initiatives. Construction is already underway, with operations to commence by late 2026. The project supports Nova Scotia's goal of attracting lower-cost innovative energy solutions and the project is expected to reduce emissions by more than 100,000 tonnes annually. This is the CIB's second partnership with Elemental Energy and partners SFN and Stevens Wind, as part of Nova Scotia's Rate Based Procurement process. The CIB's loan accelerates the construction of the energy project, at a lower cost to Nova Scotians. The project is being financed under the CIB's $10 billion Clean Power priority sector, which addresses financing gaps in new projects such as renewables, district energy systems and energy storage. Endorsements To date, the CIB has invested over $950 million in seven energy projects in Nova Scotia. Wedgeport Wind demonstrates our commitment to supporting the province and First Nations as they partner to develop energy infrastructure to strengthen the grid with affordable, clean Cory, CEO, Canada Infrastructure Bank As a nation of builders, it's time to build Canada stronger. The CIB's $97 million loan towards Wedgeport Wind will reduce emissions and supply clean, low-cost energy for more than 30,000 homes and businesses in Nova Scotia. This important investment will create good jobs, support economic development, and help us move one step closer to building energy security Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada Elemental Energy, along with our partners, Sipekne'katik First Nation and Stevens Wind, is proud to support the federal government and the province of Nova Scotia with reducing greenhouse gas emissions while contributing clean, affordable and renewable electricity for the benefit of all Nova Scotians through the Wedgeport Wind Houssian, Principal, Elemental Energy Learn More: Canada Infrastructure BankElemental Energy SOURCE Canada Infrastructure Bank View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Hamilton Spectator
2 days ago
- Business
- Hamilton Spectator
Infrastructure Bank CEO says it's ready to play a role in national-interest projects
CALGARY - The chief executive of the Canada Infrastructure Bank says the Crown corporation is looking forward to playing a role in Ottawa's ambitions to push ahead major projects deemed in the national interest. 'I think we're on the precipice of a really important time for our country,' said Ehren Cory. 'We're just one tool in the tool kit of that. We are far from the only part of the solution, but we're looking forward to playing our part in meeting the challenge that we face as a country.' U.S. President Donald Trump's on-again-off-again tariffs have forced Canada to rethink its relationship with its biggest trading partner and seek out ways to get resources and other goods to global markets. Key themes in this spring's federal election campaign were the creation of 'trade corridors' and other ways to remove the regulatory, legal and political logjams that have for several years prevented big projects from being built. The Liberal government has promised to put a two-year cap on the approval process for key projects. Prime Minister Mark Carney met with premiers in Saskatoon this week to talk over some of the nation-building projects on their wish lists. The infrastructure bank has already been involved in the planning around two contenders Carney rattled off to reporters after the meeting — the Pathways Alliance oilsands carbon capture and storage project in Alberta, and the Grays Bay Port and Road in the central Arctic. Cory said the bank has not yet received any updated direction from its owner, the federal government, since the April 28 election delivered the Liberals back to power with a minority government. 'They set out priorities,' he said. 'We go find deals.' The infrastructure bank, created in 2017 with $35 billion in capital, invests in revenue-generating projects that are deemed to be in the public good, but would have trouble getting off the ground with private-sector money alone. To date, it has made $5 billion in clean power investments and put $1 billion toward Indigenous-led projects. In the coming week, it is set to close its 100th deal. The bank operates at arm's-length from the federal government, which sets out broad priorities. As its stands, its priority sectors include public transit, clean power, green infrastructure, broadband and trade and transportation. Cory said it's not up to the bank to decide whether new oil pipelines, for example, would be investments worth pursuing. But if they are, he said, the bank is 'a potential tool to doing more of them because they have the classic hallmarks of infrastructure projects.' Like many big infrastructure projects, pipelines require huge upfront investment, have long payback periods and tend to have a lot of uncertainty getting off the ground. 'And that's very hard for the private sector alone to manage and absorb,' Cory said. 'That's the kind of shock absorber that the (infrastructure bank) can be.' This report by The Canadian Press was first published June 5, 2025.
Yahoo
2 days ago
- Business
- Yahoo
Infrastructure Bank CEO says it's ready to play a role in national-interest projects
CALGARY — The chief executive of the Canada Infrastructure Bank says the Crown corporation is looking forward to playing a role in Ottawa's ambitions to push ahead major projects deemed in the national interest. "I think we're on the precipice of a really important time for our country," said Ehren Cory. "We're just one tool in the tool kit of that. We are far from the only part of the solution, but we're looking forward to playing our part in meeting the challenge that we face as a country." U.S. President Donald Trump's on-again-off-again tariffs have forced Canada to rethink its relationship with its biggest trading partner and seek out ways to get resources and other goods to global markets. Key themes in this spring's federal election campaign were the creation of "trade corridors" and other ways to remove the regulatory, legal and political logjams that have for several years prevented big projects from being built. The Liberal government has promised to put a two-year cap on the approval process for key projects. Prime Minister Mark Carney met with premiers in Saskatoon this week to talk over some of the nation-building projects on their wish lists. The infrastructure bank has already been involved in the planning around two contenders Carney rattled off to reporters after the meeting — the Pathways Alliance oilsands carbon capture and storage project in Alberta, and the Grays Bay Port and Road in the central Arctic. Cory said the bank has not yet received any updated direction from its owner, the federal government, since the April 28 election delivered the Liberals back to power with a minority government. "They set out priorities," he said. "We go find deals." The infrastructure bank, created in 2017 with $35 billion in capital, invests in revenue-generating projects that are deemed to be in the public good, but would have trouble getting off the ground with private-sector money alone. To date, it has made $5 billion in clean power investments and put $1 billion toward Indigenous-led projects. In the coming week, it is set to close its 100th deal. The bank operates at arm's-length from the federal government, which sets out broad priorities. As its stands, its priority sectors include public transit, clean power, green infrastructure, broadband and trade and transportation. Cory said it's not up to the bank to decide whether new oil pipelines, for example, would be investments worth pursuing. But if they are, he said, the bank is "a potential tool to doing more of them because they have the classic hallmarks of infrastructure projects." Like many big infrastructure projects, pipelines require huge upfront investment, have long payback periods and tend to have a lot of uncertainty getting off the ground. "And that's very hard for the private sector alone to manage and absorb," Cory said. "That's the kind of shock absorber that the (infrastructure bank) can be." This report by The Canadian Press was first published June 5, 2025. Lauren Krugel, The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Indian Express
6 days ago
- Entertainment
- Indian Express
‘Jesse Armstrong injects steroids into how people use and abuse power': Cory Michael Smith, Ramy Youssef on working with Succession creator in Mountainhead
Succession creator Jesse Armstrong, who produced and wrote the Emmy Award-winning show, is all set to make his directorial debut with Mountainhead, a film also about a pack of crazy, perverse, self-consumed billionaires. Four of the wealthiest billionaires of America meet at a weekend villa on a mountain head as the world goes to war, thanks to their capitalistic excesses. The title is a cheeky take on Ayn Rand's 1943 seminal book The Fountainhead, and a character even refers to the interior designer of the mountain-head villa as Ayn Bland. In an exclusive interview with SCREEN, Cory Michael Smith and Ramy Youssef, who play two of the four billionaires, talk about working with Jesse Armstrong, the tone-deafness of the modern billionaire, and how Elon Musk-like tech billionaires are shaking things up. I love the scene in which the four of you, all billionaires, scale up a snow-clad mountain, write your respective net worth on your bare chests, and then scream that at the top of your lungs. Do you feel like a billionaire needs to have a bit of crazy in them? Cory: (Laughs) That's a great question! Do they need to be? No, they can be. That much money just protects you from your own behaviour and failures. Not physically, if you mess up your money, otherwise in terms of personal behaviour, you're allowed to do a lot, which is a problem. Ramy: Ya, you're allowed to remain a child or whatever it is that you want. And I just want to tell you that the scene, that you describe so brilliantly, it was so cold! And I just want you to know that. After watching Succession and working with him in Mountainhead, what is it about Jesse Armstrong that he gets the elite, the entitled, the wealthy so right? Ramy: He knows how people talk. That's really interesting because that's not how he talks. He's not writing what he knows. He's one of the kindest people I've worked with, especially considering how brilliant he is. It's all in the dialogue. We get scripts all the time to act in, and usually it takes what, 15 pages to figure out what it is. With Jesse, you'll have it known in five minutes. Because it's so clear. Cory: Yeah, and he injects steroids in the way people use and abuse power. He's able to write it in a really disturbing and entertaining way, unlike anybody else. I read a review which referred to Mountainhead as 'White Lotus winter retreat.' Do you see that parallel? And how do you think the singular setting of a luxurious villa atop a snow mountain add to the film's themes? Ramy: People just tend to compare things with other things that just came out because our memories are getting shorter by the moment. So I don't see that link, but what I do see is the isolation allows these guys to not want to confront their feelings. But because there's an actual and a metaphorical blizzard around them, they're confined to face their feelings in a way they don't want to. That makes the pressure cooker really unique and fun. Cory: And unlike The White Lotus, and to the disappointment of a lot of viewers, it's also not very romantic (laughs). Also Read | Succession: Bidding goodbye to one of the greatest television dramas of our time Cory, your character in the film defends the misinformation on his social media platform Tram (Twitter + Instagram?) by arguing that when movies were first made, the audience thought the train on the screen is going to hit them. But the solution was not to stop making movies, but make as many, and of different kinds. Do you agree with that justification? Cory: Generally, if you barrage people with so much information, it confuses, scares, and irritates them. They get a little sensory overload. They can't process all of it. Ya, we see that happening in our culture in a lot of respects. Ramy: Yeah, and I don't believe in trying to stop technology, mainly because that's impossible. So I'm an accelerationist to a level. But we'll have to figure out our own boundaries in terms of technology. We needed to do that even before this AI boom anyway. I think people will look back at this time and get shocked at how much we were on our phones because there'll be a new etiquette, a new way of interacting with these things. Hopefully, in a place where there isn't any tech at all. That's the best option! Cory: That's so optimistic I may have to choose not to believe it. Mountainhead drops on Jio Hotstar this Sunday on June 1.
