Tidewater Midstream and Infrastructure Ltd. says it expects to receive
$100 million in provincial government low carbon fuel credits if it proceeds with a plan to build renewable diesel and renewable hydrogen facilities at its
Prince George Refinery in B.C.
The
$215 million and
$235 million to build, which means the credits would equate to about 45 per cent of the cost.
It estimates that the asset could generate over
$75 million of adjusted earnings in its first year of operation, which could come as early as 2023.
The facility would use 100 per cent renewable feedstock and would include a pre-treatment facility to provide flexibility on various renewable sources.