Abraxas Power, an energy transition developer, and EDF Group entered into strategic development agreements jointly to develop the Exploits Valley Renewable Energy Corporation (EVREC) green hydrogen and ammonia project in Central Newfoundland.

EVREC is a Power-to-X (P2X) project that is expected to include up to 3+ gigawatts (GW) of onshore wind capacity with associated energy and molecular storage to power behind-the-meter green hydrogen (H₂) and green ammonia (NH₃) production. The project anticipates generating ~200,000 tons of green H₂ and ~1,000,000 tons of green NH₃ annually. 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 (FID) in 2026. Construction is expected to take place from 2026 through 2030.

Once operational, it is anticipated that the project will offset over 1.5 million tonnes of CO₂ every year, and contribute over CAD$5 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.