The federal government is backing a massive wind-powered hydrogen project in Nova Scotia with a $125-million loan.
Sean Fraser, federal minister of housing, infrastructure and communities, was in Port Hawkesbury, N.S., announced Friday (Nov. 17) that Ottawa had reached an agreement in principle for financing with EverWind Fuels, the company behind the project.
EverWind is angling to build wind-powered hydrogen and ammonia plants in southern Cape Breton and export the fuel to European markets.
The company hopes it will be the first green hydrogen and ammonia facility in the country and aims to be producing more than 200,000 tonnes of green ammonia each year, beginning in 2025.
Fraser, who is from Nova Scotia, told reporters the project will bring much-needed jobs to a rural part of the province and help Canada establish itself as a trusted supplier of green energy to international markets.
Trent Vichie, EverWind’s chief executive, says he wants Atlantic Canada to be a leader in what he called a “global race” to produce cleaner fuels.
“I think this is a once-a-lifetime opportunity to be a global leader in clean energy,” he told reporters.
EverWind is looking to build a similar project on Newfoundland’s Burin Peninsula. The Newfoundland and Labrador government gave EverWind the green light in August to apply for Crown land in order to proceed with its plans.
The Canadian Press