World Energy GH2 has signed a $128-million deal with Ottawa to support its wind to hydrogen project on the southwest coast.
The deal is with Export Development Canada to create a “credit facility” to support the development of the project.
The federal government says the project will help to put Atlantic Canada on the global stage as a leader in clean energy.
Sean Leet of World Energy GH2 says it is the first definitive agreement between the two parties.
The agreement will help finance the buildout of clean power generation and clean hydrogen production to support Canada’s de-carbonization efforts.