Abraxas Power Corp. (Abraxas), a project developer, and operator EDF Group (EDF), have entered into strategic development agreements to jointly develop the Exploits Valley Renewable Energy Corp. (EVREC) green hydrogen and ammonia project in Central Newfoundland, Canada. EVREC is expected to include up to 3 GW of onshore wind capacity with associated energy and molecular storage to power behind-the-meter green hydrogen and green ammonia production. The project plans to generate around 0.2 MTPA of green hydrogen and 1 MTPA of green ammonia. EVREC aims to have its own dedicated port infrastructure to export its products to global markets. Through these agreements, Abraxas and EDF, as equity partners, will develop the project with the objective to reach a final investment decision in 2026. Construction is expected to take place from 2026 through 2030.
Once operational, the project is expected to offset over 1.5 MTPA of CO2 every year and contribute over US$3.57 billion to Newfoundlanders through remittances to the provincial budget as well as various stakeholder benefit agreements over the life of the project.
