A major green hydrogen project planned for Nova Scotia has received a significant financial boost.
EverWind Fuels says it has secured about $240 million in financing to move ahead with the first phase of a large wind power portfolio that will support a hydrogen and ammonia production facility in Point Tupper, Cape Breton.
The investment comes from Nuveen Energy Infrastructure Credit, part of the U.S.-based asset manager Nuveen. The funding will help advance more than 650 megawatts of onshore wind projects planned across several sites in Nova Scotia.
Those wind farms are intended to generate renewable electricity that will feed into the provincial grid and supply power to EverWind’s Point Tupper Green Fuels Project in Richmond County. The facility is designed to produce green hydrogen and convert it into ammonia, which can be more easily transported for export.
Phase one of the wind portfolio represents more than $2 billion in capital investment and includes four separate wind developments around the province. Construction is expected to begin in 2026, with the first wind energy projected to come online in 2028.
The initial stage of the hydrogen project is expected to produce about 200,000 tonnes of green ammonia annually. A second phase could increase that output by an additional 800,000 tonnes per year.
An Indigenous consortium led by Membertou First Nation holds a majority ownership stake in the first phase of the wind portfolio. Paqtnkek and Potlotek First Nations are also partners in the development.
EverWind says the financing agreement represents one of the largest private clean energy investments in Atlantic Canada and among the biggest institutional renewable energy investments in Canada this year.
The Point Tupper facility received environmental assessment approval in 2023 and is planned as one of the first large-scale hydrogen production projects in Atlantic Canada.
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