EverWind plans hydrogen switch for NuStar Nova Scotia terminal
Green hydrogen company EverWind Fuels has bought NuStar Energy’s 7.8 million bbl Point Tupper terminal in Nova Scotia, Canada, with a view to developing a green hydrogen facility.
EverWind paid US$60 million (€53 million) for the site. The company says that its existing infrastructure, including the deepwater ice-free berth, rail access, and storage facility give flexible options for a green hydrogen facility. The hydrogen will be supplied to local and surrounding markets, while some will be used to produced green ammonia, which is the main component of agricultural fertiliser and is the primary refrigerant for industrial cold storage and Canada’s ice hockey rinks.
The sale is expected to be completed in the first half of 2022.
“This divestiture, at an attractive valuation in line with prior transactions, is yet another step in our strategic plan to continue optimising our business, building our financial flexibility and strengthening our balance sheet,” says Brad Barron, president and CEO of NuStar.
