On November 18, 2024, Abraxas Power Corp. and EDF Group announced a partnership to develop the Exploits Valley Renewable Energy Corporation (EVREC) project in Newfoundland. Valued at over CAD $5 billion, the project will include 3 GW of onshore wind capacity and facilities to produce ~200,000 tons of green hydrogen and ~1,000,000 tons of green ammonia annually. Construction is planned for 2026–2030, with operations expected to offset 1.5 million tonnes of CO2 annually and significantly boost Newfoundland’s economy.

Aird & Berlis represented Abraxas and EVREC, with a team led by Richard Kimel and including Trevor deBoer, Sean Green, Jessie Lewis, Karlie Nordstrom, and Francesco Gucciardo. Jones Day advised EDF.