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SUMMARY

Canadian province already has 40 hydrogen projects under active development.

By Dale Lunan

POSTED IN:

Americas Finance Canada

The government of the Canadian province of British Columbia said March 31 it will create an office dedicated to rapidly expanding hydrogen deployment and streamlining projects from proposal through construction.

The BC Hydrogen Office will work with federal and local governments to help attract investments in the province’s hydrogen economy and simplify the multi-jurisdictional review and permitting process.

“Our government recognises the importance hydrogen projects will have for our climate and BC’s economy,” premier John Horgan said. “That’s why we are taking steps to streamline the process to get these projects up and running as quickly as possible.”

The government said there are already 40 hydrogen projects proposed or under construction, representing a potential investment of some C$4.8bn (US$3.8bn), with more on the way. Most are small or medium-sized projects to provide local hydrogen supply or solutions, but some are major projects, including some of the largest green hydrogen production projects in the world.

A 2019 study showed that hydrogen could provide a C$2.5bn boost to BC’s annual gross domestic product and create 3,750 new jobs in the province by 2050. And with the province’s proximity to export markets, it could capture a “significant” portion of the global hydrogen market, estimated to reach more than C$305bn by 2050.