EverWind’s hydrogen and ammonia project will generate economic benefits: study
by CM Staff
Future phases of the project, which include additional onshore and offshore wind development, are set up to generate further economic benefits to Canada and Nova Scotia.
HALIFAX — EverWind Fuels, a developer of an Atlantic Canadian green fuels hub based across Nova Scotia & Newfoundland & Labrador, announced the release of EverWind’s Economic Impact Assessment on its Nova Scotia based green hydrogen and ammonia project (Nova Scotia Project).
The Economic Impact Assessment, which was supported by Deloitte Canada, found significant economic and environmental benefits from EverWind’s Nova Scotia Project, including the full green energy production cycle from renewable power generation (wind & solar) to green hydrogen-to-ammonia production.
Economic contribution that will arise during the construction period for Phase 1 of EverWind’s Nova Scotia Project were estimated to be:
- Over $2.3 billion in Canadian GDP, with approximately half accruing to Nova Scotia
- Over 11,000 FTEs in Canada, with approximately half accruing to Nova Scotia
- Approximately $568 million in Government revenue, with approximately half accruing to Nova Scotia
Economic contribution during operations (post-construction) for Phase 1 of EverWind’s Nova Scotia Project were estimated to be:
- Over $340 million/year contribution in Canadian GDP, with the vast majority accruing to Nova Scotia
- Approximately 900 FTEs1, in Canada, with the vast majority accruing to Nova Scotia
- Approximately $37 million/year in Government revenue, with the vast majority accruing to Nova Scotia
The EIA highlighted the following structural benefits:
- Community and First Nations Benefits – EverWind’s Mi’kmaq equity partnerships will enable sustainable business growth, employment, and training opportunities for local First Nations.
- The Nova Scotia Project will reduce CO2 emissions by an estimated 1.91 to 2.33 million tonnes each year (the approximate equivalent of taking 3 out of every 4 cars in Nova Scotia off the road).
- Energy Supply and Balancing for the Grid – The Nova Scotia Project is poised to deliver annual benefits of over $30 million to Nova Scotia’s grid through load following, and ancillary grid services, and tariff payments.
- International Trade for Green Hydrogen – Point Tupper is considered to be an ideal location for green hydrogen and green ammonia exports to the largest global demand markets
The study finds that the first phase of production may break the chicken-and-egg problem of hydrogen supply and demand and establishes further phases of growth and sustainability of project operations. Future phases of the project, which include additional onshore and offshore wind development, are set up to generate further economic benefits to Canada and Nova Scotia.
EverWind acknowledges the ancestral and unceded territory of the Mi’kmaq people, and we acknowledge them as the past, present, and future caretakers of this land, Mi’kma’ki. Our work shares a core principle practiced by the Mi’kmaq: environmental stewardship.
