The Toqlukuti’k Wind and Hydrogen project plans to develop up to 5GW of onshore wind capacity to produce green hydrogen and ammonia for domestic use and export.
Details on full-scale hydrogen production capacity have not been announced, however, by 2025, ABO originally planned to have 30MW of electrolyser capacity installed to supply green hydrogen to a nearby refinery.
In 2023, the project received a Wind Application Recommendation letter from the Newfoundland and Labrador Government to allow ABO to pursue development through the province’s Crown application approval process.
Having signed a Memorandum of Understanding (MOU) with Miawpukek First Nation, the project is anticipated to create over 4,000 construction jobs and 400 long-term jobs.
CIP acquired the stake through its Energy Transition Fund (CI ETF I) and believes the project will produce globally competitive hydrogen.
“With the wind speeds present in Atlantic Canada, we see that Toqlukuti’k has the potential to produce green hydrogen and ammonia at globally competitive prices,” said CIP Partner, Karlis Povisils.
The acquisition’s value has not been revealed.
H2 View understands that ABO will stay “actively engaged” in the project as a minority shareholder with a 10% stake and co-developer.
ABO Managing Director, Karsten Schlageter, said, “Our ABO Energy team made great progress in developing this project, especially by working across two continents and with a new technology.
“This shows our ability to bring forward large-scale projects that drive us towards Net Zero. With CIP as an experienced and financially strong development partner, we will successfully enter the next phase and bring Toqlukuti’k to realisation.”
It comes as the east coast of Canada looks set to meet the country’s ambitions of becoming a key clean hydrogen supplier to European markets.
Having announced plans for a $400m hydrogen trade auction with Germany, Canada in 2022 signed up to the Canada-Germany Hydrogen Alliance, planning to begin exports by next year.
