Project – Evrec

Overview

EVREC (Exploits Valley Renewable Energy Corporation), is a joint venture between Abraxas Power and EDF power solutions.

Located near Botwood, in Central Newfoundland, Canada, EVREC is set to become one of the world’s largest green energy transition initiatives.

This project will produce approximately 180,000 tonnes of green hydrogen and 1 million tonnes of RFNBO-certified green ammonia annually.

Because of its location near the deep-water port of Botwood, the project is ideally positioned to export green ammonia to Western Europe.

With an estimated CAPEX of CAD 12 Bn, a location in one of the most stable G7 countries, a world-class wind resource and a robust execution strategy, the EVREC project is on track to become the lowest-cost ammonia producer globally for deliveries to Western Europe.

To learn more about the economic benefits of the project, click here

PROJECT HIGHLIGHTS

• Reuse of brownfield lands
• Will generate 3GW+ of clean energy
• Project estimated CAPEX: $12 Bn CAD.
• Taxes and royalties paid provincially and federally
• Estimated local financial benefits over the project's life of 6.4 billion
• Repurposing of the closest deep-water port in North America to Europe.
• Support the creation of over 21,600 person-years of employment

Evrec Metrics

GW wind

Renewable Capacity Under Development

Bn CAD

Economic Benefits to the Community and Province over Lifetime of the Project

Mt CO2

Carbon Savings over Lifetime of the Project

Project Milestones

2024

•Start of the geotechnical surveys

•Start of construction permitting

•Industrial Benefits Agreement in place

2025

•FEED completed with class 2 estimate

•Environmental permit received

•Main construction permits received

•First Nations Agreement in place

•Land secured

•Geotechnical survey finalized

•Environmental surveys completed

•Commercial agreements in place with OEMs for all main plant equipment & long lead items

•Early deposits for key plant made

•Bankable wind study completed

•Offtake in place for at least 80% of plant capacity

•Construction financing secured

2026 – 2030

•Final Investment Decision

•Early construction works

•Port construction works start

•Camps & batch plants constructed

•Port ready to receive equipment

•Start of deliveries of wind turbines and key plant

•First molecule produced

•Construction works continue with gradual ramp up of production capacity

•Continuing gradual ramp up of production capacity

•Plant fully operational

•Demobilization

Technology flow

Local, Regional and Global Benefits

• Revitalization of a former industrial region
• Repurposing of the closest North American deep-water port to Europe
• Project estimated CAPEX: CAD$12 billion
• Taxes and royalties are paid provincially and federally
• Estimated local financial benefits over the project’s life of CAD$6.4 billion
• Permanent, high-skilled jobs
• Economic growth in local sectors as the industry grows
• Estimated CO2 savings: 1.8 – 3.2 million tonnes/year

EVREC Ammonia

~1 million tpa of pre-certified EU RFNBO ammonia by 2030, with early production expected by 2028

Bottom decile cost globally for product delivered into Western Europe and Eastern North America

Tier 1 stable jurisdiction with strong fiscal and regulatory support from Canadian federal and provincial governments, fully eligible for the Canadian ITCs

Government and Local Community Support

Fully integrated onshore wind → green hydrogen → green ammonia project adjacent to an existing year-round deep water port that is the closest water connection from North America to Northern Europe.