Buckeye Partners has today (July 13) revealed it has completed the acquisition of Bear Head Energy with plans to develop a hydrogen hub in Atlantic Canada.
Bear Head has overseen a green hydrogen and ammonia production, storage, and export project in Point Tucker, Nova Scotia, Canada with electrolyser capacity of over 2GW, which Buckeye now intends on developing.
As part of phased developments, Buckeye has said it plans to partner with on and offshore renewable energy developers to build out a large-scale green hydrogen hub for Atlantic Canada, contributing to Nova Scotia’s climate targets, and to establish the region as a global leader in green hydrogen production and export.
The Bear Head Project comes as an addition to Buckeye’s clean energy asset portfolio and hopes to position the company to make significant contributions to the energy transition, the firm said.
Todd Russo, CEO of Buckeye, said, “Buckeye’s intention with this acquisition is to develop a large-scale green energy production, distribution, and export hub.
“Given the project’s unique features and the geographic advantages of the region, including its status as one of the top locations globally for wind energy generation, we believe that this has the potential to become one the world’s premier green hydrogen production facilities.”
John Godbold, President and CEO of Bear Head, added, “Together, Bear Head and Buckeye have the experience and resources necessary to successfully develop, construct and operate a world class green hydrogen facility on the Bear Head site.
“Under Buckeye’s ownership, we believe that the Bear Head project will become a premier asset in the global hydrogen value chain by matching Nova Scotia’s considerable renewable resources with the world’s growing need for green fuels.”
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