In general, there are two basic gaps that we're filling. One is an affordability gap. One is a risk gap.
By an affordability gap, what I mean is that building infrastructure is expensive. To the extent that we can help smooth that cost across the longer term, it helps to not create huge spikes. Given our challenges as a country in meeting basic affordability, if we can do that as the bank, we can act as a shock absorber as we make some of these generational investments. That's the one that we call “affordability”.
On the risk one, for lots of infrastructure projects, they have this “build it and they will come” problem. You are going to make an investment up front and you don't know for sure what the payout will be. Mersey would be an example of this. You're going to build a wind farm, but you have to go out and sell the capacity. That might take six months, or a year or two years. The ramp-up of that is uncertain. That's true when we build new ports or transportation systems in this country, and it's certainly true in Mersey. We call that a “risk gap”.
Every investment the CIB makes is filling one of those two gaps or in some mix both of them. That's certainly the case here, and if you look across all of our investments in Nova Scotia in the electricity grid, those are the two things we're doing. That's why we're there.
