Good business case The reason for the phone call (Oct 8th) to Mike, was the lease option agreement (October 2nd) for Watson Island between Prince Rupert Legacy and Hy2gen Canada for a green hydrogen facility. I don't believe this was included in BC Hydro's anticipated demand for electricity. The information which is not confidential is out there already. If the inland Prince George facility was to use 1000MW, then what about Hy2gen's maybe larger proposal for Watson Island would consume?
Green hydrogen would be one option among others for offshore power. Takes a lot of money upfront to build things and remain cost competitive with hydro. Got to get it right the first time.
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From the company's two recent MD&A's: "The Hecate Strait wind resource is an excellent source of local renewable power for Green Hydrogen production".
Power will also be required for the expansion of Ridley Island facilities (2nd terminal also) and the Port of Prince Rupert's own requirements.
As for cost competitiveness with Hydro-- Providing electrical power locally is by far the most practical and cost-effective alternative for the fast growing commercial and industrial demand in the region. The Hecate Strait wind project is the only large-scale project in the region that can meet the demand for power. It is highly likely all future developments in the northwest region of BC, which require power, will depend extensively on renewable power sources in the region. Additionally, this powerline has surplus capacity for energy flowing east to Prince George and the rest of the province. Renewable energy from the NW can also provide the needed electricity to reduce the province's dependency on fossil fuels.
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Recent announcement of 25MW turbines in China. Can withstand waves and strong winds.
Demand for green ammonia, etc from Japan and Korea. Fertilizer shipments, canola, etc to China.
Trading partnerships are important. A basic rule of economic growth for many centuries.