Wedoany.com Report on Mar 4th, Canadian clean energy company EverWind has recently secured $175 million in financing, which will be used to advance its portfolio of wind assets and large-scale green ammonia production project in Nova Scotia, Canada. The investment was provided by the global asset management firm Nuveen, with specialized support from its energy infrastructure credit division.

Nuveen's funds will primarily support EverWind's Point Tupper Green Fuels project, which plans to build over 650 MW of onshore wind facilities in Nova Scotia. EverWind stated that the first phase of the project is expected to commence construction this year and enter commercial operation in 2028, initially producing 200,000 tonnes of green ammonia annually. The subsequent second phase could potentially increase capacity to one million tonnes per year.

The majority of the green ammonia produced by the project is expected to be sold to international markets such as Europe. In August 2022, German energy companies Eon and Uniper signed non-binding memoranda of understanding with EverWind, planning to procure 500,000 tonnes of green ammonia each annually.

EverWind CEO Trent Vichie commented on this, stating, "This investment is a positive recognition of Nova Scotia as a key hub for clean energy infrastructure."

However, the feasibility of large-scale green hydrogen exports from Canada is currently facing some discussion. In 2022, the Canadian and German governments signed a green molecules trade agreement and launched a €400 million (approximately $470 million) bilateral auction aimed at funding Canadian projects exporting green hydrogen to Germany.

It is worth noting that EverWind recently faced adjustments regarding land rights for its Burin Peninsula Green Fuels project in Newfoundland. Previously, another Canadian company, World Energy GH2, had its planned 1.2 GW project in Newfoundland temporarily stalled due to a failure to reach offtake agreements.