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Feasibility Study
可行性研究报告

Manitoba Green Energy Corridor (MGEC)
— A Green Future for Canada

曼尼托巴绿色能源走廊(MGEC)
——加拿大的绿色未来

April 2026 North America · Europe 北美 · 欧洲 EN | 中文

Executive Summary

The Manitoba Green Energy Corridor (MGEC) feasibility study evaluates the construction of a large-scale integrated clean energy hub at The Pas, Manitoba — positioned at the intersection of the Hudson Bay Railway and the Canadian National Railway mainline. The project is designed to serve a dual strategic purpose: revitalizing Canada's northern economy and supplying zero-carbon fuels to European markets seeking to diversify away from Russian energy.

The hub combines a wind-solar-nuclear hybrid power system, green hydrogen and ammonia production, LNG liquefaction, and full electrification of the 800-kilometre Hudson Bay Railway. Total investment is estimated at CAD 23.4 billion (approximately USD 17 billion), with funding sourced from EU Global Gateway, Gulf sovereign wealth funds, Canadian pension funds, and multilateral institutions. The project achieves financial breakeven within 6–8 years and an IRR of ≥12%.

Key Highlights

01

Wind-Solar-Nuclear Hybrid Power System

The hub combines 12 GW of onshore wind capacity (800 × 15 MW turbines), 150 MW of bifacial photovoltaic arrays, and a 150 MW thorium-based molten salt reactor (TMSR) — a Generation IV nuclear technology with inherent safety and no meltdown risk. The nuclear base load enables high-efficiency hydrogen production via high-temperature steam electrolysis.

02

Green Hydrogen, Ammonia & LNG for Europe

Annual output of 1 million tonnes of liquid green ammonia provides a directly transportable zero-carbon fuel for EU markets. LNG production leverages low-cost summer pipeline gas from the TransCanada Mainline, liquefied by clean power — meeting EU Carbon Border Adjustment Mechanism (CBAM) requirements.

03

Hudson Bay Railway Electrification

Full electrification of the 800-kilometre Hudson Bay Railway enables virtual heavy-haul trains of 35,000 tonnes, using permafrost subgrade reinforcement technology developed for China's Qinghai-Tibet Railway. The Port of Churchill provides a deep-water Arctic route to Europe shorter than Vancouver or Montreal.

04

Strong Financial Returns

Annual revenues of CAD 4.5–5.8 billion are projected from green ammonia exports, LNG sales, railway logistics, and power sales. The static payback period is 6–8 years with an IRR of ≥12%, supported by long-term EU off-take agreements and low-cost wind-solar-nuclear power.

05

Indigenous Partnership and Northern Reconciliation

The project reserves over 80% of operational jobs for Indigenous community members, provides free power and broadband along the railway corridor, and grants an Indigenous consortium equity ownership and a golden share with veto rights in the project SPV — embedding reconciliation into the project's governance structure.

执行摘要

曼尼托巴绿色能源走廊(MGEC)可行性研究报告评估了在马尼托巴省帕斯镇建设大型综合清洁能源枢纽的战略价值与经济可行性。该枢纽位于哈德逊湾铁路与加拿大国家铁路干线的交汇处,兼具双重战略目标:振兴加拿大北部经济,以及向寻求摆脱俄罗斯能源依赖的欧洲市场供应零碳燃料。

枢纽集风电-光伏-核能混合动力系统、绿氢与绿氨生产、天然气液化及800公里哈德逊湾铁路全线电气化于一体。总投资估算约234亿加元(约合170亿美元),资金来源涵盖欧盟"全球门户"计划、海湾主权财富基金、加拿大养老金及多边机构。项目静态回收期6至8年,内部收益率≥12%。

核心亮点

01

风-光-核混合动力系统

枢纽配置12GW陆上风电(800台×15MW风机)、150MW双面光伏阵列,以及150MW钍基熔盐反应堆(TMSR)——第四代核电技术,具有固有安全性、无堆芯熔毁风险,并可提供高温热能,显著提升高温蒸汽电解制氢效率。

02

面向欧洲的绿氢、绿氨与LNG

年产100万吨液态绿氨,直接为欧盟市场提供可运输的零碳燃料。LNG生产利用夏季跨加拿大输气干线的低价天然气,以清洁电力液化,满足欧盟碳边界调节机制(CBAM)要求。

03

哈德逊湾铁路电气化

800公里哈德逊湾铁路全线电气化,采用中国青藏铁路永冻土路基加固技术,实现35,000吨虚拟重载列车运行。丘吉尔港提供直通欧洲的深水北极航线,较温哥华或蒙特利尔更短。

04

可观的财务回报

绿氨出口、LNG销售、铁路物流及电力销售预计年收入合计45至58亿加元。静态回收期6至8年,内部收益率≥12%,欧盟长期购电协议与低成本风光核电力为项目提供强有力支撑。

05

原住民伙伴关系与北部和解

项目80%以上运营岗位优先向原住民社区成员开放,沿线提供免费电力与宽带,并授予原住民联合体项目SPV股权及具有否决权的黄金股——将和解精神纳入项目治理结构。

Publication Details 报告信息
Type 报告类型 Feasibility Study 可行性研究报告
Date 发布日期 April 2026
Total Investment 总投资额 CAD 23.4 billion (~USD 17 billion) 234亿加元(约合170亿美元)
Region 研究地区 North America (Canada) · Europe 北美(加拿大)· 欧洲
Language 语言 EN | 中文
Prepared by 编制单位 Global Strategic Corridors Institute 环球战略通道研究所
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