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Feds extend $125M loan to Everwind to speed up work on its green energy hub

By Steve MacArthur Nov 17, 2023 | 3:12 PM

A large investment to speed up clean energy production in Cape Breton.

The feds have an agreement to provide a $125 million loan to Everwind Fuels for its green energy hub in Point Tupper. The hub will produce green hydrogen to export to Germany and other global markets through its world class deep-water terminal.

Point Tupper is a multi-phase green hydrogen and ammonia production and export facility in Richmond County, and is in advanced stages of development.

Energy Minister Jonathan Wilkinson says the loan will ensure our country is a leading supplier of clean energy and technology to international partners.

“The $125 million investment 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.”

Everwind has partnered with area First Nations and will be the first in Atlantic Canada to produce green hydrogen when the project is ready and the deal with Germany is for 500,000 tonnes of green ammonia each year beginning in 2026.

Membertou has been proud to partner with Everwind in the creation of the Nova Scotia green fuels hub. The development of this project is setting an example for how partnership and economic reconciliation should be done,’ explains Chief Terry Paul, Membertou First Nation. “We will work to progress the transition to green energy in Nova Scotia and the world. We are pleased to see the Government recognize the accomplishments that we have made on this project including the collaboration with our communities.”

The company is one of the larger employers in the Strait area with more than 100 employees but closer to 300 people when you look at their various initiatives.