Canada's EverWind Achieves Industry-Leading Carbon Reductions with Green Hydrogen Project
Key Ideas
- EverWind's Point Tupper Green Ammonia Project Phase I in Canada is set to secure the Clean Hydrogen Investment Tax Credit, affirming its 99% emissions reduction compared to fossil-fuel-based hydrogen.
- The project's validation by RWDI and Deloitte confirms a carbon intensity of less than 0.75kg CO2 per kg of green hydrogen, making it a significant contributor to green energy transition.
- By accessing the CH ITC, EverWind aims to drive down costs globally, providing cost-efficient and sustainable green hydrogen while complying with stringent regulatory standards.
- The collaboration between EverWind, RWDI, and Deloitte highlights the importance of transparent validation processes in advancing the adoption of green technologies and reducing carbon emissions.
EverWind, North America's prominent green hydrogen developer, has successfully submitted its Clean Hydrogen Investment Tax Credit (CH ITC) Clean Hydrogen Project Property Plan for the "Point Tupper Green Ammonia Project Phase I" in Canada to Natural Resources Canada. This submission marks a significant milestone as it is expected to make the Point Tupper project the first in Canada to secure the CH ITC, qualifying for the maximum credit value based on independently verified carbon intensity of clean hydrogen. The project's carbon intensity modelling confirms a remarkable reduction of over 99% compared to fossil-fuel-based hydrogen production, highlighting its environmental sustainability. Through the collaboration with renowned firms like RWDI and Deloitte, EverWind's project is positioned to access the highest tier of the CH ITC, representing 40% of eligible capital expenditures. This achievement not only ensures cost-efficiency but also contributes to establishing Canada as a leader in providing green hydrogen globally. The rigorous validation process, including the use of the Fuel Life Cycle Assessment Model, emphasizes compliance with regulatory standards for clean hydrogen production and underlines the importance of transparent and robust validation in driving the green energy transition. Mark Vanderheyden, COO at RWDI, praised the low carbon intensity of the project and emphasized the significance of such validations in promoting sustainable energy practices. Overall, EverWind's success in achieving industry-leading carbon reductions through its green hydrogen project sets a promising example for advancing clean energy technologies and combatting climate change.
Topics
Investing
Clean Energy
Sustainability
Green Technology
Engineering
Compliance
Carbon Intensity
Environmental Consultancy
Investment Tax Credit
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