Transforming Newfoundland: EDF and Abraxas Collaborate on Green Hydrogen Venture
Key Ideas
- Abraxas and EDF form a strategic partnership to develop the EVREC green hydrogen and ammonia project in Central Newfoundland, aiming to produce significant amounts of green H2 and NH3 annually.
- The project is set to reduce carbon emissions, create long-term jobs, and contribute over CAD$5 billion to Newfoundlanders through remittances and stakeholder benefit agreements.
- Construction is expected to start in 2026 with a final investment decision planned for the same year, showcasing a commitment to advancing the energy transition and supporting Newfoundland's green future.
Abraxas Power Corp. and EDF Group have announced a strategic partnership to develop the Exploits Valley Renewable Energy Corporation (EVREC) green hydrogen and ammonia project in Central Newfoundland. The project, with a capacity of up to 3+ gigawatts of onshore wind, aims to produce around 200,000 tons of green hydrogen and 1,000,000 tons of green ammonia annually. EVREC plans to have a dedicated port infrastructure for exporting its products globally. The partners aim to reach a final investment decision in 2026, with construction scheduled from 2026 to 2030. The CEO of Abraxas highlighted the significance of this partnership in advancing the energy transition and supporting Newfoundland's green future. EDF's CEO also expressed pride in joining the project, emphasizing the competitive advantages in the global hydrogen and ammonia market. Once operational, the project is expected to offset over 1.5 million tonnes of CO2 annually and contribute over CAD$5 billion to Newfoundland's economy, along with creating hundreds of highly skilled long-term jobs.