Copenhagen Infrastructure Partners Acquires Majority Stake in Toqlukuti’k Wind & Hydrogen Project in Canada
Key Ideas
- Copenhagen Infrastructure Partners (CIP) acquired a majority stake in the Toqlukuti’k Wind & Hydrogen project in Newfoundland & Labrador, Canada, from ABO Energy.
- Toqlukuti’k project is expected to produce competitive green hydrogen and ammonia due to exceptional wind resources and government support, creating jobs and boosting the local economy.
- The partnership between CIP and ABO Energy also includes Canada's largest onshore wind farm, Buffalo Plains, which will provide clean energy to approximately 240,000 households in Alberta.
- This acquisition reflects a commitment to sustainable development and the transition towards a carbon-neutral future in Canada and globally.
Copenhagen Infrastructure Partners (CIP) has made a significant move by acquiring a majority stake in the Toqlukuti’k Wind & Hydrogen project in Newfoundland & Labrador, Canada, from ABO Energy. This project, driven by exceptional wind resources, aims to produce competitive green hydrogen and ammonia, supported by federal and provincial backing. The investment is poised to make Newfoundland an attractive destination for green energy investment, catering to European demand. The project, named Toqlukuti’k, is set to create over 4,000 construction jobs and 400 long-term positions, providing a significant boost to the local economy. This partnership marks another milestone between CIP and ABO Energy, who are also collaborating on Canada's largest onshore wind farm, Buffalo Plains, contributing to environmental sustainability. The positive sentiment of the stakeholders involved, as expressed by Karlis Povisils from CIP and Karsten Schlageter from ABO Energy, highlights a shared vision for a carbon-neutral future. The acquisition signifies a strategic step towards promoting sustainable development and driving the transition towards cleaner energy sources in Canada and beyond.
Topics
Projects
Green Hydrogen
Renewable Energy
Investment
Offshore Wind
Partnership
Sustainable Development
Employment
Ammonia
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