$6 Billion Investment to Fuel Canada's Hydrogen Boom

  • 23-Feb-2023
  • Journalist: Jaideep

Canada [North America]: EverWind Fuels, a leading independent green Hydrogen project developer, has been granted Environmental Approval for the first phase of their ambitious $6 billion project. Through cutting-edge technology and resources, they plan to produce 1 million tons of green Hydrogen and green Ammonia annually at their Point Tupper facility in Nova Scotia.

EverWind, a company specializing in clean fuels, has announced agreements with German companies E.ON and Uniper to deliver fuel by 2025 as part of the Canada-Germany Hydrogen export deal. The landmark deal, signed in August 2022 by Minister Jonathan Wilkinson of Natural Resources Canada and Vice-Chancellor Robert Habeck of Germany, marks a new era in greener solutions for supplying energy to Europe and a major step away from reliance on Russian Natural gas.

EverWind is proud to announce the significant milestone of receiving Environmental Approval for its Nova Scotia-based green Hydrogen and green Ammonia project. With this approval, construction for the project can move forward later in 2021, making it the first independent plant of its kind in North America and one of the world's first. Additionally, EverWind has partnered with Membertou, Bayside Development Corporation and Potlotek — equity partners that are all part of their First Nations community — to drive a successful project to fruition.

EverWind, a renewable energy powerhouse, is expanding its operations with an onshore wind farm powered by 2GW of energy. The project will cover 137,000 acres of land and cost $6 billion to build. The Point Tupper terminal has a capacity of over 10 million tons per year of green Ammonia and was acquired by EverWind in early 2022. In 2026, the newly built wind farm will enter operation and provide clean energy to the area.

Germany has chosen Canada to be one of its preferred countries for Hydrogen imports, in addition to African nations. This is because of the potential for wind power along Canada's East Coast opening to the Atlantic. In the years ahead, Canada's electricity generation will largely depend on keeping nuclear and hydro capacities, building a significant amount of wind and some solar capacity, and slowly reducing reliance on natural gas past 2040.

Considering Canada's abundance of natural gas, renewable energy sources such as wind and solar farms have an opportunity to produce not only electricity, but Hydrogen and derivatives as well. With access to these low-cost resources, Canada won't need to look for alternatives like Europe does. The European Council recently instituted an 'Additionality Rule', which requires Hydrogen production to be linked to new wind and solar farms instead of existing ones if their percentage of clean sources is meant to remain the same without additional coal usage and more Carbon emissions. Germany believes that this is a better solution than importing it from elsewhere.

2023 is already being hailed as the year for green Hydrogen to take off, and Canada is well-positioned to be a leader in the race. Investment in this sector has become increasingly crucial, given that it's still in its infancy - if countries don't begin investing now, they could be paying for it for years or even decades to come. Just how quickly things can change is exemplified by China - they've increased their planned capacity from less than 5GW to more than 10GW within just two months of this year.

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