Abraxas Power Advances $12B Green Energy Hub in Newfoundland

  • Abraxas Power and EVREC submitted an environmental assessment for a CAD$12 billion project in Newfoundland, including a 3.5 GW onshore wind farm and green hydrogen and ammonia production.
  • The project will add CAD$7.8 billion to Newfoundland’s GDP over 34 years, creating 32,500 person-years of employment and increasing household spending by CAD$2.2 billion.
  • The initiative will generate CAD$220 million in tax revenue for municipal governments and strengthen partnerships with local communities.

Abraxas Power Corp. and its subsidiary, Exploits Valley Renewable Energy Corporation (EVREC), have submitted an environmental assessment for their green energy hub project in Newfoundland. The project includes a 3.5-gigawatt (GW) onshore wind farm and the production of green hydrogen and ammonia.

EVREC submitted the assessment to the Department of Environment and Climate Change, which is planning the Botwood area project. The company aims to generate 200,000 tons of green hydrogen and 1 million tons of green ammonia annually, focusing on export markets.

In 2023, the provincial government granted EVREC access to over 300 square kilometres of crown lands. Since then, EVREC has advanced pre-construction activities, including environmental studies, resource measurements, and public consultations. These steps will determine the final design of the CAD$12 billion project.

An Economic Impact Assessment by Jupia Consulting projects significant benefits for Newfoundland’s economy. Over its 34-year lifespan, the project will add CAD$7.8 billion to the provincial Gross Domestic Product (GDP) and generate CAD$3.1 billion in employment income.

The project will support 10,900 person-years of employment during the four-year construction period and create 21,600 jobs over 34 years of operation. Household spending in the province will increase by CAD$2.2 billion.

The project will bring CAD$220 million in tax revenue to municipal governments over 38 years. The provincial government will receive CAD$8 billion, while the federal government will gain CAD$1.6 billion from in-province activities.

Abraxas Power CEO Colter Eadie emphasised the project’s significance: “This project isn’t just about renewable energy; it’s about creating strong partnerships with local communities and driving Newfoundland’s economy. It will create skilled jobs and foster economic stability.”

Abraxas Power focuses on decarbonising hard-to-abate sectors. The company consistently leads large-scale projects in renewable energy, hydrogen production, and industrial operations.

The green energy hub will contribute to Newfoundland’s clean energy goals and the global push for decarbonisation.

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