Abraxas Power Corp. and EDF Group have announced a collaboration to develop a 3-GW power-to-X (P2X) project in Newfoundland, Canada. The project, named Exploits Valley Renewable Energy Corp. (EVREC), will utilize wind energy to power electrolyzers for the production of green hydrogen and ammonia. The partners aim to make a final investment decision on the project by 2026 and expect construction to span from 2026 to 2030. The EVREC installation plans to annually produce up to 200,000 tonnes of green hydrogen and 1 million tonnes of green ammonia, with the intention of exporting these products to global markets, particularly Western Europe. The project, which received an exclusive contract from the government of Newfoundland and Labrador, represents a substantial investment of about 12 billion CAD. EVREC's goals are in line with the Canadian government's objective of achieving net-zero greenhouse gas emissions by 2050. EDF Group's Hydrogen Plan, initiated in 2022, aims to develop 3 GW of hydrogen production globally by 2030. The companies believe that the EVREC project will help offset more than 1.5 million tonnes of CO2 annually, contributing to the decarbonization of the economy. Key executives from EDF Group expressed enthusiasm for the project, highlighting its importance in the green hydrogen and ammonia market and its role in the energy transition towards carbon neutrality.