Newfoundland and Labrador’s energy minister has reassured taxpayers they won’t be financially burdened if hydrogen production in the province encounters setbacks.
This comes amid reports of delays in Canada’s green hydrogen efforts to establish a supply chain with Europe due to imbalances between supply and demand. The challenges cited include unprepared European infrastructure and global inflation, reducing the likelihood of exporting hydrogen to Germany by 2025.
Despite challenges, the province has invested significant resources in developing a regulatory framework for wind-powered hydrogen production, with multiple projects approved environmentally. Minister Andrew Parsons acknowledged the ambitious nature of the 2025 goal but remains optimistic about the opportunities within the province. He highlighted the necessity of readiness, suggesting criticism would arise if the province had been passive.
Parsons emphasized ongoing efforts, mentioning that many projects have secured memoranda of understanding. Addressing concerns about potential liabilities should companies cease operations, Parsons assured that the province remains financially protected.
