Buckeye Partners has entered into a definitive agreement to acquire Bear Head Energy, Inc., which owns a clean-energy development project located in an industrial complex in Point Tupper, Nova Scotia, Canada.
The Bear Head Project, which was previously developed as an LNG import and export facility, is fully permitted, and the project is unique in eastern Canada with all of the project approvals and permits in place necessary for construction. Located on 251 acres of land and a 68-acre water lot on the northeast bank of the Strait of Canso, the project has access to one of the northernmost, year-round ice-free ports with access to critical-demand markets in Atlantic Canada, the U.S. East Coast and Europe.
“Nova Scotia’s unique geographical characteristics give the region the potential to become one of the most productive renewable and green-energy development areas in the world, and via this acquisition, it is our intention to develop a large-scale energy productio