- EverWind’s Point Tupper project will be the first to receive the Clean Hydrogen Investment Tax Credit, covering 40% of its capital costs.
- The project aims to cut greenhouse gas emissions by 99%, confirmed by independent Deloitte Canada and RWDI assessments.
- Starting in 2025, Point Tupper positions Canada as a global leader in green hydrogen, driving further industry developments.
EverWind’s Point Tupper project will become Canada’s first recipient of the Clean Hydrogen Investment Tax Credit (CH ITC). The project aims to cut greenhouse gas emissions by 99% compared to fossil-based hydrogen, and independent experts have confirmed its environmental impact.
The Canadian government plans to provide significant support, with the CH ITC expected to cover 40% of the project’s capital costs. This move aligns with Canada’s strategy to lead the global energy transition and accelerate green hydrogen production.
Deloitte Canada and RWDI conducted independent assessments, validating the project’s emissions reduction claims. The project uses the Fuel Life Cycle Assessment Model to ensure regulatory compliance. Mark Vanderheyden, RWDI’s Chief Operating Officer, emphasised that independent verification strengthens the credibility of clean energy projects.
EverWind plans to start construction on the Point Tupper facility in 2025. The company continues negotiating supply agreements, expecting the project to set a precedent for green hydrogen initiatives in Canada. The CH ITC reduces the upfront costs of such projects, encouraging more widespread adoption and investment in the sector.
Trent Vichie, CEO of EverWind, highlighted the project’s critical role in positioning Canada as a global leader in green hydrogen. He expects it to drive further industry developments and support the nation’s large-scale energy transition.
The Point Tupper project aligns with global efforts to reduce emissions and combat climate change. The project demonstrates that clean hydrogen can be feasible and economically viable using proven technologies and fostering partnerships. Its success could serve as a model for achieving international climate goals.
Nathan Steeghs, a partner at Deloitte Canada, noted that projects like Point Tupper enhance Canada’s energy competitiveness. He believes these initiatives will be crucial in addressing global climate challenges and securing the country’s standing in the green energy sector.
Point Tupper will likely open new opportunities within Canada’s clean energy landscape. As the first project to benefit from the CH ITC, it showcases how government incentives can drive innovation and investment in renewable energy projects.
With global demand for clean hydrogen rising, Canada’s early investment in such projects offers a competitive advantage. The successful completion of Point Tupper could inspire similar initiatives, helping the country meet its ambitious emissions reduction targets.
This project underscores the importance of collaboration between government, industry, and environmental experts in pursuing sustainable energy solutions. It also highlights clean hydrogen’s potential to play a significant role in Canada’s future energy mix.
By securing the CH ITC and demonstrating significant emissions reductions, the Point Tupper project will play a key part in Canada’s transition to a cleaner, more sustainable energy future. Its success could pave the way for a new wave of green hydrogen projects nationwide.