Feds sign agreement that includes a credit facility for World Energy GH2, push is on to be first producer

    Thursday, 29 February 2024 07:00

    By Tonya Organ

    This includes a $128M (US$95M) credit facility to support the development of Project Nujio’qonik through to its financial close of its long-term financing.

    The federal government has signed an agreement with World Energy GH2  to develop green energy. Canada's Minister of Labour and Seniors, Seamus O’Regan, announced support for the country’s first commercial-scale green hydrogen / ammonia facility on the west coast of Newfoundland and Labrador. This includes a $128M (US$95M) credit facility to support the development of Project Nujio’qonik through to its financial close of its long-term financing. World Energy GH2 plans to construct windmills in Bay St. George. The agreement demonstrates continuing support of the Canada-Germany Hydrogen Alliance signed between the two countries at Project Nujio’qonik’s site in Stephenville, in August 2022. It also provides leadership for renewable green energy to be generated and exported to markets in Germany, Europe and around the world, as well as for domestic consumption.

     

    To report an error, submit a news tip, or provide feedback, please e-mail news@bayfm.ca or call (709) 637-0183.

    More from Local News

     

     

     

    BayFM recognizes support from the following agencies:

                        

    Today's Weather

    • Corner Brook

      Light snow

      High: -4°C | Low: -8°C

    • Deer Lake

      Heavy snow

      High: -3°C | Low: -7°C

    • Stephenville

      Heavy snow

      High: -5°C | Low: -8°C

    Recently Played

    Podcasts

    • BayFM On-Demand

      Trask Talk Thursday, January 29, 2026

      Lynn Howse Regional Outreach Officer Western Regional Waste Management and Lenny Benoit talk trash

    • The Plain Truth

      The Plain Truth, January 28, 2026

      “Trigger Warning”, Today’s show contains discussion of intimate images which may be disturbing for some listeners. We ask that you consider your needs and engage with this material in a way that is best for you. Please take care of yourself and reach out for help if you need it.

    • Qalipu Today

      Qalipu Today, Tuesday January 27, 2026

      Qalipu Today is back with it's first show since the Chirstmas break