On behalf of the Canadian government, Export Development Canada (EDC) has signed a financing agreement with World Energy GH2 for the company's utility-scale green hydrogen project in the country.
World Energy GH2 has been granted a US$95m credit facility for the development of the initiative until the developer reaches financial close.
This is Canada's first commercial-scale green hydrogen and ammonia plant on the west coast of Newfoundland and Labrador.
According to World Energy GH2's plans, once it's built, the plant will produce approximately 250,000 tonnes of green hydrogen per year and 1.2 million tonnes of green ammonia. Initially, 400,000 tonnes of green ammonia will be exported.
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