{"id":6612,"date":"2024-10-08T02:20:00","date_gmt":"2024-10-07T19:20:00","guid":{"rendered":"https:\/\/www.globenewswire.com\/news-release\/2024\/10\/07\/2959267\/0\/en\/Abraxas-Power-Announces-the-Submission-of-the-Environmental-Assessment-Registration-for-its-Exploits-Valley-Renewable-Energy-Corporation-Green-Hydrogen-Project-in-Central-Newfoundl.html295"},"modified":"2024-10-08T02:22:14","modified_gmt":"2024-10-07T19:22:14","slug":"abraxas-power-announces-the-submission-of-the-environmental-assessment-registration-for-its-exploits-valley-renewable-energy-corporation-green-hydrogen-project-in-central-newfoundland","status":"publish","type":"post","link":"https:\/\/cryptoinsider.asia\/vi\/abraxas-power-announces-the-submission-of-the-environmental-assessment-registration-for-its-exploits-valley-renewable-energy-corporation-green-hydrogen-project-in-central-newfoundland\/","title":{"rendered":"Abraxas Power Announces the Submission of the Environmental Assessment Registration for its Exploits Valley Renewable Energy Corporation Green Hydrogen Project in Central Newfoundland"},"content":{"rendered":"\n<p align=\"justify\">TORONTO, Oct. 07, 2024 (GLOBE NEWSWIRE) &#8212; Abraxas Power Corp. (\u201c<strong>Abraxas<\/strong>\u201d), a leading energy transition developer, and its subsidiary Exploits Valley Renewable Energy Corporation (\u201c<strong>EVREC<\/strong>\u201d), are pleased to announce that EVREC has submitted the Environmental Assessment Registration (\u201c<strong>EAR<\/strong>\u201d) with the Department of Environment and Climate Change of the Government of Newfoundland &amp; Labrador for its Green Energy Hub project in the Botwood area.<\/p>\n<p align=\"justify\">EVREC is a P2X project that was awarded access to over&nbsp;300 square kilometres of crown lands by the province of Newfoundland and Labrador in 2023 for EVREC\u2019s use in the development of its project in Central Newfoundland. EVREC will include a 3.5 GW onshore wind project with its associated energy and molecular storage powering behind-the-meter hydrogen (H<sub>2<\/sub>) and ammonia (NH<sub>3<\/sub>) production. The project expects to generate up to 200,000 tons of green H<sub>2<\/sub>&nbsp;and up to 1,000,000 tons of green NH<sub>3<\/sub>&nbsp;annually that will be exported to global markets.<\/p>\n<p align=\"justify\">Since the above-mentioned land access award, EVREC has significantly advanced the project through pre-construction activities which include environmental data collection, resource measurement, and public consultations. The final project design is subject to these ongoing assessments and activities.<\/p>\n<p align=\"justify\">\u201cToday marks a pivotal milestone for EVREC as we register the Project with the Government of Newfoundland and Labrador,\u201d said Colter Eadie, CEO of Abraxas Power. \u201cThis project is not just about harnessing the power of natural resources; it\u2019s about developing a strong partnership with our local communities as we transform the future of energy. This initiative will boost Newfoundland\u2019s economy by creating substantial high-skilled job opportunities and fostering economic stability and vibrant, thriving communities.\u201d<\/p>\n<p align=\"justify\">EVREC\u2019s total capital investment is expected to be CAD$12 billion. According to an <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=8gMmfVZzFPdsYTktiiyivJxXLx6rLkJj9svg1YJQZDZKynQyjv6R9XeQUwY6-X1xRpQrx5QoTC9f6syjQUvKe7UuQgpAmcYr7jNhss63TBl7MlDHkrCDO4KK0UsPSUjU5X9IwsIycjAFzZrmHIBOjuh3Pw8qMRlWin5-mc2P9Fk=\" rel=\"nofollow noopener\" target=\"_blank\" title><u>Economic Impact Assessment<\/u><\/a> published by Jupia Consulting, when combining both CAPEX and OPEX economic activity, the project is expected to:<\/p>\n<ul>\n<li>Boost provincial GDP by $7.8 billion over the 34-year life of the project (in $2024), excluding the GDP impacts arising from spending the tax\/royalty revenue<\/li>\n<\/ul>\n<ul>\n<li>Contribute $3.1 billion employment income in Newfoundland and Labrador<\/li>\n<\/ul>\n<ul>\n<li>Support 10,900 person years of employment during the four years of construction and over 21,600 over the 34-year operating period<\/li>\n<\/ul>\n<ul>\n<li>Boost annual household spending in NL by over $2.2 billion<\/li>\n<\/ul>\n<ul>\n<li>Contribute $220 million in tax revenue to municipal governments over the 38-year period (CAPEX and OPEX phases). The provincial government will receive an estimated $8 billion and the federal government another $1.6 billion just from the in-province activity.<\/li>\n<\/ul>\n<p align=\"justify\"><strong>EVREC\u2019S EAR Document&nbsp;can be found at:<\/strong><\/p>\n<p align=\"justify\"><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=yCQ5akqs2swcX1CJ1YdYJQJo8_YZvuzdOoh4w00pyjeWkKmw_-UzNyBs57fj_c0EsMRT0e87zx8MYPf_fiBjOBgBBkL4UDwzY1_-CNkwxNRuWzSkdCu7YExNBwZlYD9BtOtVO5zuPggeTQdeG9iFOZL9X5vfemN5HXpmUnQU12pyFnRJVJHASn3fPon34KkQh7jUfQP6DgIBeDcutM6Taw==\" rel=\"nofollow noopener\" target=\"_blank\" title><u>Botwood and Area EVREC Green Energy Project &#8211; Environment and Climate Change (gov.nl.ca)<\/u><\/a><\/p>\n<p align=\"justify\"><strong>About Abraxas Power:<\/strong><\/p>\n<p align=\"justify\">Abraxas Power is a pioneering energy transition developer focused on decarbonizing hard-to-abate sectors and creating value by solving the current and future challenges of the energy transition. Abraxas Power\u2019s broad mandate allows it to see opportunities across technologies and geographies to transform the global energy industry. Our team has extensive experience in leading, financing, and solving the challenges associated with energy transition, and a proven track record of delivering complex, large-scale development projects across various disciplines, including renewable power and storage, hydrogen and ammonia production, industrial and precious metals, large-scale project construction, and operations at scale. The team possesses strong project finance and capital markets experience and has a history of creating value for shareholders, stakeholders, and the communities they live in. Abraxas has signed strategic partnerships with various global strategics and technology providers.<\/p>\n<p align=\"justify\">Abraxas has secured over US$9 billion in capital projects through competitive government awards over the past year in furtherance of the energy transition, including our marquis Exploits Valley Renewable Energy Corporation (\u201cEVREC\u201d) project.<br \/>To learn more, visit www.abraxaspower.com<\/p>\n<pre><\/pre>\n<p><img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/NDAwNmQ2NmUtNTE2Ni00Yzc4LTkxNmMtMjJiZDAzOTdjNWY1LTEyODY3MTM=\/tiny\/Abraxas-Power-Corp-.png\" referrerpolicy=\"no-referrer-when-downgrade\">  <\/p>\n","protected":false},"excerpt":{"rendered":"<p> TORONTO, Oct. 07, 2024 (GLOBE NEWSWIRE) &#8212; Abraxas Power Corp. (\u201cAbraxas\u201d), a leading energy transition developer, and its subsidiary Exploits Valley Renewable Energy Corporation (\u201cEVREC\u201d), are pleased to announce that EVREC has submitted the Environmental Assessment Registration (\u201cEAR\u201d) with the Department of Environment and Climate Change of the Government of Newfoundland &amp; Labrador for its Green Energy Hub project in the Botwood area. EVREC is a P2X project that was awarded access to over\u00a0300 square kilometres of crown lands by&#8230;<\/p>\n","protected":false},"author":1,"featured_media":6613,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[75,1406],"tags":[],"class_list":["post-6612","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-globenewswire"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Abraxas Power Announces the Submission of the Environmental Assessment Registration for its Exploits Valley Renewable Energy Corporation Green Hydrogen Project in Central Newfoundland<\/title>\n<meta name=\"description\" content=\"TORONTO, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Abraxas Power Corp. (\u201cAbraxas\u201d), a leading energy transition developer, and its subsidiary Exploits Valley Renewable Energy Corporation (\u201cEVREC\u201d), are pleased to announce that EVREC has submitted the Environmental Assessment Registration (\u201cEAR\u201d) with the Department of Environment and Climate Change of the Government of Newfoundland &amp; Labrador for its Green Energy Hub project in the Botwood area. EVREC is a P2X project that was awarded access to over\u00a0300 square kilometres of crown lands by...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/TORONTO,%20Oct.%2007,%202024%20(GLOBE%20NEWSWIRE)%20--%20Abraxas%20Power%20Corp.%20(\u201cAbraxas\u201d),%20a%20leading%20energy%20transition%20developer,%20and%20its%20subsidiary%20Exploits%20Valley%20Renewable%20Energy%20Corporation%20(\u201cEVREC\u201d),%20are%20pleased%20to%20announce%20that%20EVREC%20has%20submitted%20the%20Environmental%20Assessment%20Registration%20(\u201cEAR\u201d)%20with%20the%20Department%20of%20Environment%20and%20Climate%20Change%20of%20the%20Government%20of%20Newfoundland%20&amp;%20Labrador%20for%20its%20Green%20Energy%20Hub%20project%20in%20the%20Botwood%20area.%20EVREC%20is%20a%20P2X%20project%20that%20was%20awarded%20access%20to%20over\u00a0300%20square%20kilometres%20of%20crown%20lands%20by...\" \/>\n<meta property=\"og:locale\" content=\"vi_VN\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Abraxas Power Announces the Submission of the Environmental Assessment Registration for its Exploits Valley Renewable Energy Corporation Green Hydrogen Project in Central Newfoundland\" \/>\n<meta property=\"og:description\" content=\"TORONTO, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Abraxas Power Corp. (\u201cAbraxas\u201d), a leading energy transition developer, and its subsidiary Exploits Valley Renewable Energy Corporation (\u201cEVREC\u201d), are pleased to announce that EVREC has submitted the Environmental Assessment Registration (\u201cEAR\u201d) with the Department of Environment and Climate Change of the Government of Newfoundland &amp; Labrador for its Green Energy Hub project in the Botwood area. 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