Buckeye Partners LP, Houston, reported that on July 13 it closed on the acquisition of Bear Head Energy Inc., Port Hawkesbury, Nova Scotia, which is developing a large-scale green hydrogen and ammonia production, storage, and export project in Point Tupper, Nova Scotia, with hydrogen electrolyzer capacity of over two gigawatts. The facility is near Port Hawkesbury in Cape Breton, Nova Scotia.
“Buckeye’s intention with this acquisition is to develop a large-scale green energy production, distribution, and export hub,” said Buckeye CEO Todd Russo. “Given the project’s unique features and the geographic advantages of the region, including its status as one of the top locations globally for wind energy generation, we believe that this has the potential to become one the world’s premier green hydrogen production facilities.
“As Buckeye continues to evolve into a more diversified energy company, acquisitions like Bear Head represent an opportunity for us to invest in growth that aligns with our customers’ evolving needs and ESG priorities while leveraging our existing expertise and capabilities,” he added.
According to Bear Head, it has already invested more than US$150 million in engineering, development, and site construction, including roads, drainage, site leveling. and pouring LNG tank foundations. It said the LNG foundations can be repurposed as ammonia storage tanks. It said the 251-acre site is already fully permitted as an LNG facility, and in addition to wind, it is in close proximity to tidal and hydro power, as well as industrial water sources.
Bear Head said it has a 68-acre water lot accessible year-round. It said marine berth and offloading facilities have been engineered and approved. It said the Straight of Canso provides an ice-free, deep, and protected harbor with direct access to the North Atlantic and short shipping distances to the Northeast U.S., Europe, and other global energy markets, with the location also competitive to Asian markets.