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A green hydrogen project in Newfoundland and Labrador filed for creditor protection after the province threatened to reclaim land over unpaid fees.
A consortium developing a green hydrogen project in Newfoundland and Labrador has filed for creditor protection, citing the provincial government’s threat to reclaim Crown land over unpaid $10.5 million in reserve fees.
The group, led by World Energy GH2 and linked to businessman John Risley, owes about $65 million in additional debts and has invested over $120 million in the project.
It argues the initiative would lose value if land and environmental approvals are revoked.
The government has not commented on the filing.
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Un proyecto de hidrógeno verde en Terranova y Labrador solicitó protección de acreedores después de que la provincia amenazara con reclamar tierras por honorarios no pagados.