Abraxas, EDF For Green Hydrogen And Ammonia Project In Canada

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.

“We are thrilled to announce this transaction with EDF as we continue to advance the development of the EVREC project,” said Colter Eadie, chief executive officer (CEO) of Abraxas and EVREC. “The arrangements with EDF further support our commitment to advancing the energy transition and supporting Newfoundland and Labrador’s green future. With the global experience of one of the world’s largest energy companies, we are well-positioned to move forward with a project that is not only expected to drive economic growth in the region but is also expected to make a significant impact on reducing carbon emissions. EVREC represents a transformative step towards a sustainable energy economy, and we are excited to lead the way in delivering green hydrogen and ammonia to global markets, creating lasting benefits for Newfoundlanders and the environment.”

“We are proud to join our partner Abraxas within the EVREC Project which demonstrates strong competitive advantages in the global green hydrogen and ammonia market,” said Beatrice Buffon, group senior executive vice-president, EDF international division, CEO of EDF Renewables commented. “With its Hydrogen Plan, EDF is supporting the energy transition with decarbonization solutions in the sectors that emit the most carbon dioxide (CO₂). EDF has been one of the leading renewable energy companies in North America for more than 35 years and has been present in Canada since 2008. We look forward to cooperating with all Canadian stakeholders and our partner to bring this project to fruition.”

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. The project is expected to add hundreds of new, highly skilled and long-term jobs to central Newfoundland.