A $6 billion project to manufacture green hydrogen in Nova Scotia gained environmental permission from provincial regulators, which helped Canada’s agreement to provide Germany with the fuel gain momentum.

With ammonia supplies to German utilities EON SE and Uniper SE expected to commence by 2025 due to the decision, EverWind Fuels Co. will be able to start construction in the first half of the year. According to the business, the project’s initial phase is expected to produce 200,000 metric tons annually, with a total production of 1 million metric tons of green hydrogen and ammonia expected by 2026, according to the business.

The initiative represents a development for the hydrogen supply deal that German Chancellor Olaf Scholz and Canadian Prime Minister Justin Trudeau inked in August. Since hydrogen burns hot enough to produce steel, it is seen as a crucial fuel for reducing industrial pollution.

A 2-gigawatt onshore wind farm will be built by EverWind on 137,000 acres of land to power the second phase of the industrial facility.

Trent Vichie, a Stonepeak Infrastructure Partners co-founder, established EverWind in Halifax in February 2022. The privately held company claimed that Vichie’s family office had provided $120 million of its total financing to date. It is collaborating with the Canadian Imperial Bank of Commerce, Citigroup Inc., and Morgan Stanley to secure more funding.

Exit mobile version