Canadian renewable energy company World Energy GH2 is pressing ahead with plans to produce and ship green hydrogen and green ammonia to global markets with the acquisition of the Port of Stephenville on the west coast of the province of Newfoundland and Labrador.
World Energy GH2 is developing Canada’s first commercial green hydrogen/ammonia producer backed by over 3 GW of wind energy to deliver approximately 250,000 tons per year of hydrogen using 1.5 GW electrolysers starting in 2025.
The project is seen as a key player in the Canada-Germany hydrogen alliance formed last August to establish a transatlantic supply corridor for exporting clean Canadian hydrogen.
The sheltered, year-round deepsea port is a key shipping area in the region due to its ability to accommodate ships up to 385m in length. World Energy GH2 acquired the port from Dale Merkel and Theresa Keeping, operating under Port Harmon Authority. The price of the acquisition was not disclosed.
Going forward, Horizon Maritime Services will operate the port on behalf of World Energy GH2. Site preparation for the construction of the green hydrogen plant is expected to start following environmental approvals and permitting.
“The Port of Stephenville is the cornerstone of our project and will position the Bay St.
George area as a green energy hub. As a project and an industry, we are building serious momentum here,” said Sean Leet, managing director and CEO of World Energy GH2.
World Energy GH2 is backed by SK ecoplant, the environment and energy arm of South Korea’s SK Group, which is initially investing $50m for a 20% stake in the first phase of the project.