US EditionAtlantic hydrogen firms welcome $200M in German investment for Canadian exports
The EU's €200 million funding aims to unlock C$323 million in Canadian investments for green hydrogen exports to Germany, reducing 2.5 million tons of CO2 emissions, officials said.
- With a €200-million pledge, the European Union's executive branch approved last week to support renewable hydrogen production in Atlantic Canada, unlocking C$323 million for exports to Germany.
- Canada and Germany's 2022 pact signed by former prime minister Justin Trudeau and former German chancellor Olaf Scholz aims to lessen Germany's reliance on Russian energy after Ukraine's invasion.
- Planning to begin construction this year, Everwind Fuels says, `We have extremely interested banks to work on the project financing. Extremely interested and, really, sitting waiting, equity investors. But the last key piece of this whole thing is locking in the offtake contract,' Tinari said in an interview Wednesday.
- Auctions for hydrogen suppliers and buyers are expected with up to 300 megawatts on offer, and hydrogen will be auctioned to German buyers with Germany saying this could mean almost 2.5-million fewer tonnes of carbon dioxide.
- Some early promoters have reconsidered plans, with at least two wind-to-hydrogen projects in Newfoundland and Labrador scrapped, while Colter Eadie, chief executive officer of Abraxas Power, said Atlantic Canada offers export advantages and his project is halfway through engineering and seeking approvals.
15 Articles
15 Articles
The emerging hydrogen sector in Atlantic Canada welcomes the €200 million EU commitment to support the production of renewable hydrogen and its derivatives in Canada.
Winnipeg Free Press
Atlantic hydrogen firms welcome $200M in German investment for Canadian exports
Breaking News, Sports, Manitoba, Canada
In order to create a market, sellers and buyers are needed, and in order for these two types of actors to meet more quickly and easily, the European Commission has set up a hydrogen mechanism within its European platform ...
Six winners of the 2024 Innovation Fund hydrogen auction sign grant agreements, advancing renewable hydrogen rollout in the EU
Six winners of the 2024 Innovation Fund hydrogen auction sign grant agreements, advancing renewable hydrogen rollout in the EU Six projects selected in the 2024 Innovation Fund Auction for renewable hydrogen production (IF24 Auction) have signed their grant agreements, receiving a total of €270.6 million, sourced from EU Emissions Trading System revenues. Two of these projects were awarded under the dedicated maritime topic, receiving more than …
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