Current Investment Prospects at the Port
Argentia Renewables
Pattern Energy is proposing to construct and operate an integrated 400 MTPD Green Hydrogen electrolyzer and Ammonia (NH3) Production, Storage and Loading Facility at the Port of Argentia. The facility will be located on lands fully owned by POA and will be supplied energy through a proposed 300 MW wind farm built on Port lands. The project also consists of a 230kv grid connection nearby at Long Harbour. Based on the viability of the project and market conditions, the project may be scaled up to more than 1GW of renewable energy producing 1,400 MTPD of ammonia.
ACI AMMONIA ROYALTIES
ACI has negotiated commercial terms and conditions applicable to the lease of the Property and the development of the Project include; Ammonia Royalties and a Co-Investment Right.
ACI CO-INVESTMENT RIGHT
ACI (or its Affiliate) has the right to acquire a limited partner equity interest in wind, hydrogen and ammonia project, or any other special purpose entities established for the purpose of developing, maintaining and operating a renewable energy and/or green fuels production, storage and export project at the Port.
Offshore Subsea Piping
Existing port infrastructure and the Cooper Cove Marine Terminal Expansion make the Port of Argentia an ideal location for the construction of a spool pipe base. ACI is working with POA to finance the development of a spool pipe base including the identification and negotiation of value-added incremental revenue streams available from the construction and operation of a spool pipe base. The offshore industry is expected to place increased demands on the province’s marine base infrastructure. If Newfoundland and Labrador is to capture significant benefits from future drilling, subsea development and deep water exploration, infrastructure investments in the domestic production of fabricated pipe for use in the offshore is a necessity.
Rare Earth Mineral Processing
Torrent Capital Ltd. has signed a memorandum of Understanding with POA to seek out investment necessary to establish a rare earth industrial park at the port that will lead to the import of raw materials and the export of finished goods. A comprehensive rare earth supply chain study is currently being undertaken, the study covers sourcing of materials from mining operations to intermediate processing of oxides and metals to magnet manufacturing. This study is supported by the Atlantic Canada Opportunities Agency and the Department of Innovation, Energy and Technology.
