Spirit of Scotia will be an integrated green hydrogen production, storage, and transport project to be built in phases up to a potential 500GW in size to supply a secure source of green hydrogen to European and North American markets.
AUSTIN, Texas, Aug. 24, 2022 /PRNewswire/ — Green Hydrogen International (GHI) has announced its second giga-scale green hydrogen development in Nova Scotia, Canada. The project centers on a series of hydrogen storage facilities the company is planning in the salt formations that lie beneath the province. Underground salt storage is a critical lynchpin of large-scale green hydrogen production, allowing for significantly lower production costs and the ability to guarantee delivery to customers.
GHI has acquired extensive mineral exploration licenses across Nova Scotia in most of the known storage-grade salt formations in the province.
European countries are in urgent need of large-scale, secure, low-cost energy sources like green hydrogen and as the recent cooperation agreement signed between Prime Minister Justin Trudeau and German Chancellor Olaf Scholz makes clear, Canada has an outsized role to play in helping Europe meet their energy needs and reduce reliance on Russian natural gas.
With abundant offshore wind resources, excellent storage grade salt formations, and easy access to large European energy markets, Nova Scotia is one of the best places in the world for large scale green hydrogen production. The declining cost curve of offshore wind power and falling electrolyzer prices means large scale production of green fuels will soon be cost competitive with hydrocarbons, allowing Nova Scotia to become a major global player in clean energy production.
When fully expanded to 500GW in size, Spirit of Scotia will be able to produce over 43 billion KG of H2 per year, equivalent to over 450TWh of energy. This could power 73% of Germany’s electricity needs and is comparable in energy terms to the amount Qatar exports in natural gas every year.
GHI intends to work with the Canadian and Nova Scotian Governments, The Mi’kmaq People, and local communities around the province to develop the project and help build a green hydrogen future in a sustainable way.
"The massive wind resource available offshore Nova Scotia, combined with the significant salt formations suitable for H2 storage means Nova Scotia will be one of the best places in the world to produce green hydrogen," says GHI Founder and CEO Brian Maxwell.
GHI Board member and former McKinsey senior partner Andy Steinhubl adds, "Salt storage is an advantaged solution for solving the intermittency problem of renewable power, as well as enabling giga-cost economies of scale, and providing ratable offtake projects. GHI is building a global portfolio of these projects and Nova Scotia is a top priority for the company."
GHI intends to bring together a consortium of developers, companies, and local community and First Nations groups to help advance the project. "This will be one of the largest deployments of capital in Canadian history and an enormously bold undertaking, so we’re excited to work with a broad group of stakeholders to make it happen," says Maxwell.
Maxwell believes the Spirit of Scotia Green Hydrogen Hub will create significant opportunity for Nova Scotians.
"I expect the wealth generated by Spirit of Scotia to flow to the residents of Nova Scotia for generations to come. The project will create thousands of jobs, reduce local power costs, and add significant tax revenue to the province," says Maxwell. "Plus, Nova Scotians will be able to proudly say that their province is a world leader in green energy production."
Founded in 2019 by long-time renewable energy entrepreneur Brian W. Maxwell, GHI is the world’s leading green hydrogen development company with a global pipeline of large-scale projects centered on strategic salt storage assets, located near low-cost renewable energy resources, and large markets.
Using the sustainable power of wind, water, and sun wherever they are most abundant, we are creating green hydrogen and green ammonia to power the future of civilization. Green Hydrogen International is the future of fuel.
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SOURCE Green Hydrogen International Corp.