Abraxas Power and EDF Group Team Up to Launch Green Hydrogen Project in Newfoundland

Abraxas Power Corp., a leading developer in the energy transition sector, and EDF Group, a global leader in low-carbon energy, have announced a strategic partnership to co-develop the Exploits Valley Renewable Energy Corporation (EVREC) green hydrogen and ammonia project in Central Newfoundland. This initiative aims to harness renewable energy to produce green hydrogen (H2) and green ammonia (NH3) through a Power-to-X (P2X) process.

The EVREC project is expected to feature over 3 gigawatts (GW) of onshore wind capacity, coupled with energy and molecular storage systems to support large-scale green hydrogen and ammonia production. The project is forecasted to generate approximately 200,000 tons of green hydrogen and 1 million tons of green ammonia annually. Furthermore, EVREC plans to establish its own dedicated port infrastructure to facilitate the export of its products to international markets.

Under the terms of their agreement, Abraxas and EDF will jointly develop EVREC, with the goal of making a final investment decision (FID) in 2026. Construction of the project is scheduled to occur between 2026 and 2030. Colter Eadie, CEO of Abraxas and EVREC, expressed enthusiasm about the collaboration, emphasizing the project's potential to drive economic growth in Newfoundland and Labrador while playing a significant role in reducing carbon emissions. Eadie highlighted that the project represents a transformative step towards a sustainable energy economy and a green future for the region.

Beatrice Buffon, Group Senior Executive Vice-President of EDF and CEO of EDF Renewables, also praised the partnership, emphasizing the competitive advantages EVREC will have in the global green hydrogen and ammonia market. EDF’s Hydrogen Plan aims to support the energy transition by providing decarbonization solutions in high-emission sectors. With more than 35 years of experience in North America, EDF is committed to advancing renewable energy in Canada, having operated in the country since 2008.

Once operational, EVREC is expected to offset over 1.5 million tonnes of CO2 annually, contributing more than CAD$5 billion to Newfoundland through remittances to the provincial budget and various stakeholder agreements throughout the project’s lifespan. Additionally, the project will create hundreds of long-term, skilled jobs in central Newfoundland, further boosting the local economy and supporting the region’s transition to a greener future.

With the combined expertise of Abraxas and EDF, EVREC aims to play a key role in delivering green hydrogen and ammonia to global markets, marking a significant step toward a low-carbon, sustainable energy future.

Abraxas is an innovative energy transition developer dedicated to decarbonizing hard-to-abate sectors and generating value by addressing both current and future challenges of the energy transition. With a wide-ranging mandate, Abraxas is able to identify opportunities across various technologies and regions to drive transformation in the global energy industry.