Abraxas Power Corp. and EDF Group have announced a strategic partnership to co-develop the Exploits Valley Renewable Energy Corporation (EVREC) green hydrogen and ammonia project in Central Newfoundland. The initiative aims to harness renewable energy to produce green hydrogen and ammonia through a Power-to-X process. The project plans to have over 3 GW of onshore wind capacity, energy and molecular storage systems, and a dedicated port infrastructure for product export. EVREC is expected to generate 200,000 tons of green hydrogen and 1 million tons of green ammonia annually, with the aim of making a final investment decision in 2026 and starting construction between 2026 and 2030. The project is projected to offset over 1.5 million tonnes of CO2 annually and contribute more than CAD$5 billion to Newfoundland's economy, creating hundreds of skilled jobs and supporting the region's transition to a greener future. The collaboration between Abraxas and EDF signifies a significant step towards a sustainable energy economy, with a focus on reducing carbon emissions and driving economic growth in the region.