Buckeye Partners has closed on the previously announced acquisition of Bear Head Energy, 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. 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." As part of the project's phased development, Buckeye plans to partner with on-shore and off-shore renewable energy developers to build out a large-scale green hydrogen hub for Atlantic Canada. Buckeye and Bear Head believe this development will create a significant number of new clean energy jobs in the province, help support Nova Scotia's carbon emissions reduction targets, and establish the region as a global leader in the production of green hydrogen for domestic and export markets.
Buckeye Partners has closed on the previously announced acquisition of Bear Head Energy, 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. 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." As part of the project's phased development, Buckeye plans to partner with on-shore and off-shore renewable energy developers to build out a large-scale green hydrogen hub for Atlantic Canada. Buckeye and Bear Head believe this development will create a significant number of new clean energy jobs in the province, help support Nova Scotia's carbon emissions reduction targets, and establish the region as a global leader in the production of green hydrogen for domestic and export markets.
