EverWind Fuels secures $125M federal govt support for Nova Scotia green energy hub

EverWind Fuels, a North American developer of green hydrogen projects, has received development support from Canada’s federal government for the green energy hub being developed in Nova Scotia.

Illustration; Point Tupper. Courtesy of EverWind Fuels

On November 17, EverWind said it had reached an agreement in principle with Export Development Canada on terms for a $125 million debt facility to support the project, pending final due diligence.

According to the company, this loan will support clean power generation and clean hydrogen production that will be exported to markets in Germany and around the world, as well as for domestic consumption.

Jonathan Wilkinson, Minister of Energy and Natural Resources, said: “Today’s $125 million investment in EverWind Fuels will ensure that Canada is a leading supplier of clean energy and technology to our international partners. It also supports Canada in continuing to make good on our commitments under the Canada-Germany Hydrogen Alliance, announced last year in Stephenville. I congratulate EverWind and all First Nations and local partners involved in this project and look forward to continuing to maintain and increase Canada’s competitiveness in the global clean economy.”

The Canada–Germany Hydrogen Alliance was formed in August 2022 to commit the two countries to enable investment in hydrogen projects through policy harmonization, supporting the development of secure hydrogen supply chains, establishing a transatlantic Canada–Germany supply corridor, and exporting clean Canadian hydrogen by 2025.

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Commenting on the funding support from the federal government Trent Vichie, CEO of EverWind Fuels, said: “The green energy hubs of tomorrow are being determined today. The federal government’s support recognizes the immense work required to stand up this new industry, and gets closer to a greener world, and an economically prosperous Atlantic Canada. We are proud of our achievements made over these last two years working shoulder to shoulder with our First Nations partners, and all that have shown support.”

In Point Tupper, Nova Scotia, EverWind is developing a 1 million tonnes per annum (mtpa) green hydrogen and ammonia project.

The first phase of the project is permitted and expected to produce and export 200,000 tonnes per annum starting in 2025, then achieve the full 1 mtpa volume by 2026.

At the beginning of 2023, the project received an environmental approval.

EverWind is also pursuing a sister project on the Burin Peninsula in Newfoundland & Labrador. This project will consist of a 2 GW wind farm to produce green hydrogen and ammonia, which is very similar to the second phase of the Nova Scotia project.

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