In Canada, Abraxas Power Corp. and EDF Group announced a CAD$12 billion partnership to develop the Exploits Valley Renewable Energy Corporation project in Central Newfoundland generating 200,000 tons of green hydrogen and 1,000,000 tons of green ammonia annually from 3+ gigawatts of onshore wind power.
Located on a repurposed forestry site, the project will integrate renewable energy and molecular storage with a dedicated port for global exports. Abraxas and EDF, as equity partners, will develop the project with the objective to reach a final investment decision in 2026. Construction is expected to take place from 2026 through 2030.
Colter Eadie, CEO of Abraxas and EVREC said, “We are thrilled to announce this transaction with EDF as we continue to advance the development of the EVREC project. The arrangements with EDF further support our commitment to advancing the energy transition and supporting Newfoundland and Labrador’s green future.”
With CAD$5 billion in expected remittances to Newfoundland’s budget and significant contributions to global green energy, EVREC is poised to redefine the province’s economic and environmental landscape.
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Tags: Abraxas Power, Canada, EDF, green ammonia, green hydrogen
Category: Fuels
