Pattern Energy has reached a deal to use some 6,000 acres of industrial and forest lands in Argentia, Newfoundland for a planned 300 MW green ammonia export facility.
The Port of Argentia announced the binding agreement today, with undisclosed commercial terms including land lease rates at the Port, priority berthing charges, and a wind royalty on electricity sales.
The agreement also includes commercial terms for Argentia Capital, a signatory to the agreement, to co-invest in the renewable project as a Limited Partner as well as receive a gross revenue royalty on ammonia sales.
If the parties opt to pursue a second phase of the project, it would entail 1.2 GW of wind energy at a cost of CAD 5.4bn, the CBC reported.
