This aerial photograph shows the Point Tupper energy storage centre that was recently purchased by EverWind Fuels for $76.9 million. The new owners plan to upgrade the facility to enable the production of green hydrogen. CONTRIBUTEDPOINT TUPPER – EverWind Fuels has reached an agreement to provide two German energy companies with one-million tonnes of green ammonia per year.
EverWind CEO and co-founder Trent Vichie said the company’s commitment to the two German firms is significant as it amounts to roughly half of one per cent of the world’s ammonia supply which has a present spot price of about $1-million USD per tonne.Vichie also said the agreements underscore the importance of green hydrogen and ammonia in the fight against climate change. He also said the agreement is another positive step toward improved energy security in Europe.
The German chancellor, under pressure domestically to find alternative energy sources to Russia, is looking worldwide for potential hydrogen suppliers. Prior to its invasion of Ukraine, Russia supplied 55 per cent of Germany’s gas imports. As of last month, that share was down to 26 per cent. Meanwhile, in a continued flurry of recent activity on the green economy front, plans and desires have been announced for green hydrogen-producing plans in both Belledune. N.B., and Stephenville, N.L., although the latter is contingent on the establishment of a giant wind turbine farm on the Port au Port peninsula in western Newfoundland.
According to Vichie, the Point Tupper location is ideal because of its location on a year-round, ice-free port, the existing rail loading facilities, its proximity to wind farms and land suited for wind farms, available electricity and fresh water and an existing pool of high-skilled local labour. He said that approximately 70 workers are currently on the site. Point Tupper is located just south of the Canso Causeway and is about 130 km from Sydney.
How will this affect the local economy?