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Wednesday, April 24, 2024

SK secures land for $15B Canadian green hydrogen project

SK Inc’s renewable energy division has secured a site for its $15 billion green hydrogen project in Canada, one of the world’s largest such projects. SK ecoplant Co has received approval to utilize 1,078 square kilometers (670 square miles) of Canada’s Crown Land to harness wind energy for green fuel production.

When completed, the project in Newfoundland and Labrador will generate 1.08 million tons of green ammonia annually.

SK ecoplant invested $50 million for a 20% stake in the project in May, aligning with Canada’s ambitions to become a major hydrogen producer and exporter. The partnership with World Energy GH2 Inc, the project’s primary developer, aims to produce green hydrogen by 2025 and green ammonia by 2026.

The approved land will support the expansion of the project to its final phase, featuring a 4-gigawatt wind power plant producing 180,000 tons of green hydrogen yearly.

Green hydrogen is produced through electrolysis, with the electricity sourced from renewable energy.

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