BOTWOOD, Newfoundland and Labrador, Feb. 23, 2026 (GLOBE NEWSWIRE) -- Exploits Valley Renewable Energy Corporation (“EVREC”) welcomes the recent decision by the Government of Newfoundland and Labrador to extend the company’s Crown lands wind reserve to February 28, 2027. This extension follows a rigorous provincial review and underscores EVREC’s commitment to a disciplined and transparent development process for its large-scale wind-to-green hydrogen and ammonia project in Central Newfoundland.
EVREC has met all requirements under the Province’s wind-hydrogen framework, including the payment of Crown lands reserve fees, and remains committed to the disciplined execution required to bring world-class green energy to Central Newfoundland.
This extension is a vote of confidence in our project’s viability and our team’s execution strategy,” said Ahmad Khaleeq, EVREC’s Chief Executive Officer. “We appreciate the vigilant oversight of Minister Lloyd Parrott and the Department of Energy and Mines. Their framework ensures that Newfoundland and Labrador’s resources are managed responsibly, and we are proud to be a partner that meets those high standards of accountability.”
J Colter Eadie, EVREC’s President, added, “The advancement of EVREC is a shared success story. Our progress is fueled by the deep collaboration and trust we have built with the residents of the Exploits Valley region, our Indigenous partners, and the local business community. Their insights and support are not just shaping the project’s execution; they are ensuring that EVREC remains an anchor for the region’s social and economic prosperity for generations to come.”
EVREC is driving this multi-billion-dollar project towards the final milestones required for project execution, including:
- Permitting: Finalizing the Environmental Impact Statement for its upcoming submission.
- Commercial: Securing strategic offtake agreements within the high-growth European RFNBO market.
- Engineering: Moving Front-End Engineering and Design towards completion.
- Stakeholders: Deepening collaborative partnerships with community and Indigenous stakeholders to ensure shared regional prosperity.
About EVREC:
Exploits Valley Renewable Energy Corporation (EVREC) is a partnership between Abraxas Power Corp. and EDF power solutions, aiming to produce one million tonnes of green ammonia per year, leveraging Central Newfoundland’s world-class wind resources and the deep-water Port of Botwood.
To learn more, visit www.evrec.ca.
