Trudeau and German Chancellor Olaf Scholz To Sign Agreement That Can Make Canada The “Green Energy Hub Of North America”

German Chancellor Olaf Scholz will be visiting Canada from August 21 to 23. On this visit, the German Chancellor and Prime Minister Justin Trudeau are set to sign a pivotal green energy deal in Newfoundland. 

According to a statement released on Monday, the two leaders will head to Stephenville in western Newfoundland on August 23 to sign the agreement. 

Stephenville is where Newfoundland-based company World Energy GH2 plans to build a wind energy-powered zero-emission plant that will produce hydrogen and ammonia for export.

This project, if approved, will be the first in Canada, and the cooperation between Canada and Germany will help in Germany’s search for new sources of energy, as the country along with most of Europe grapples with a looming energy crisis resulting from Russia’s invasion of Ukraine, and its reduction of the flow of natural gas to its European customers, exacerbated by extreme weather conditions. 

According to the proposal, the first phase of World Energy GH2’s Newfoundland project will require building 164 onshore wind turbines to power a hydrogen production facility at the deep-sea port at Stephenville. In the long-term, the company aims to develop triple the current scale of the project.

“There is a heightened urgency for Canada to step into this new market that’s in such high demand,” said Stephenville Mayor Tom Rose. “We’re poised now to be the green energy hub of North America.”

Rose described Stephenville, with its world-class “wind corridor” and capacity to produce the large amounts of water necessary for hydrogen production, as an ideal location for a wind farm, while noting that the province lifted a moratorium on wind farm development only recently.

“It appears to be the energy of the future and the demand is very robust,” Rose added. “We’re stepping up when another country needs our resources.”

The multibillion-dollar Newfoundland project was registered with the province in June. To proceed, it now requires an environmental impact statement.

Information for this briefing was found via CTV News and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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