Abraxas Power Corp. and EDF have unveiled plans for the Exploits Valley Renewable Energy Corporation (EVREC) project in Newfoundland, a pioneering initiative focused on green hydrogen and ammonia production. EVREC, a Power-to-X project, is designed to integrate 3 gigawatts of onshore wind capacity to produce 200,000 tons of green hydrogen and 1 million tons of green ammonia annually. The partnership between Abraxas and EDF aims to make a final investment decision by 2026, with construction scheduled from 2026 to 2030. Once operational, EVREC is expected to cut over 1.5 million tons of CO2 emissions yearly, offering substantial economic benefits to Newfoundland and Labrador. Projections suggest that EVREC could inject more than 5 billion Canadian dollars into the provincial budget and create numerous skilled jobs in the area. Moreover, the project is poised to establish Newfoundland as a key player in the global green molecule export market, thereby reinforcing its position in the worldwide energy transition. CEO Colter Eadie praised the partnership as a transformative move towards a sustainable energy future for Newfoundland, while Executive VP Béatrice Buffon commended the collaboration's strengths and the project's potential to assist high-emission sectors in decarbonization efforts.