CIP Powers Up: Majority Stake in Canadian Wind and Hydrogen Project
Canada, Wednesday, 18 December 2024.
Copenhagen Infrastructure Partners now holds a 90% stake in the Toqlukuti’k project, aiming for 5 GW of wind power to produce green hydrogen and ammonia, boosting job creation and exports.
Strategic Investment in Green Future
I’m excited to share that on December 16, 2024, Copenhagen Infrastructure Partners (CIP) made a significant move by acquiring a 90% stake in the Toqlukuti’k Wind and Hydrogen project [1][4]. This ambitious venture in Newfoundland and Labrador, Canada, aims to harness up to 5 GW of onshore wind capacity for green hydrogen and ammonia production [1]. The name ‘Toqlukuti’k,’ which means ‘working together’ in the traditional Mi’kmaq language, perfectly embodies the collaborative spirit of this project [3].
Jobs and Community Impact
What really excites me about this project is its potential impact on local communities. The development is expected to create over 4,000 construction jobs and maintain 400 long-term positions during operations [1][3]. The project has already established strong community ties, securing a memorandum of understanding with Miawpukek First Nation and receiving crucial support through a Wind Application Recommendation letter from the Newfoundland and Labrador Government in August 2023 [1][3].
Production and Export Potential
Looking at the near-term milestones, the project plans to install 30 MW of electrolyser capacity by 2025 [1]. CIP’s Partner, Karlis Povisils, highlighted an exciting prospect: ‘With the wind speeds present in Atlantic Canada, we see that Toqlukuti’k has the potential to produce green hydrogen and ammonia at globally competitive prices’ [1]. This aligns perfectly with Canada’s broader ambitions, as the country plans to begin hydrogen exports to Germany by 2025, following the Canada-Germany Hydrogen Alliance signed in 2022 [1].
Partnership Synergies
This isn’t the first collaboration between CIP and ABO Energy. They’re already partners in Canada’s largest onshore wind farm, Buffalo Plains, which will power approximately 240,000 households in Alberta [3][5]. ABO Energy’s Managing Director, Karsten Schlageter, expressed confidence in the partnership: ‘With CIP as an experienced and financially strong development partner, we will successfully enter the next phase and bring Toqlukuti’k to realisation’ [1][5].