Green Giraffe supported World Energy GH2, a consortium of experienced and local Canadian partners, on the development, contracting, offtake structuring and financing of the Nujio'qonik project, a large-scale Canadian green hydrogen production facility powered by a 3 GW onshore wind farm (1 GW for phase 1)
Green Giraffe was mandated as sole financial advisor by World Energy GH2, to support on the development, contracting, offtake structuring and financing of Nujio’qonik project and supported World Energy GH2 in securing a USD 95 M devex credit facility from Canada’s EDC, and a USD 50 M equity investment from SK Ecoplant.
Upon completion of the project, the power from the wind farms will be converted into green hydrogen, which will then be converted to green ammonia for transport to global markets. The electrolyzer and ammonia facilities will be located at the port of Stephenville, which offers deep water shipping access to the world.
The project will be developed and financed in stages with a staggered target delivery schedule. The project is being developed to allow for much greater production capacity as additional onshore wind projects are developed to harness Newfoundland’s vast wind resources along its sparsely populated west coast. The location also offers additional future offshore opportunities – potential offshore wind sites close to the hydrogen facility.
World Energy GH2 is a newly established company focused on sustainability and the transition to green energy sources. The partners of World Energy GH2 (CFFI, Horizon Maritime, World Energy) bring in a wide range of specialized expertise, such as strong local knowledge and local network, expertise in marine transportation for the export and logistics component, the manufacturing of sustainable fuels, and provision of training in the wind industry.
