Abraxas Power Corp. and EDF Group have announced a partnership to develop the Exploits Valley Renewable Energy Corporation (EVREC) green hydrogen and ammonia project in Central Newfoundland. The project aims to include up to 3+ gigawatts of onshore wind capacity with energy and molecular storage for green hydrogen and green ammonia production. Abraxas and EDF plan to reach a final investment decision in 2026, with construction scheduled for 2026 through 2030. The CEO of Abraxas and EVREC expressed excitement about advancing the energy transition and supporting Newfoundland and Labrador's green future. The project is expected to have a significant impact on reducing carbon emissions and driving economic growth in the region. EDF's participation aligns with its Hydrogen Plan to support decarbonization solutions and contribute to reducing CO2 emissions. Once operational, the project is projected to offset over 1.5 million tonnes of CO2 annually and add over CAD$5 billion to the provincial budget through remittances and stakeholder benefit agreements. Moreover, it is expected to create hundreds of new, highly skilled, and long-term jobs in central Newfoundland, providing a boost to the local workforce and economy. The partnership between Abraxas and EDF signifies a step towards a sustainable energy economy and demonstrates the competitive advantages of the EVREC Project in the global green hydrogen and ammonia market. This collaboration aims to bring lasting benefits to Newfoundlanders and the environment, marking a significant milestone in the energy transition journey.