Spotlight on new Churchill Falls deal at annual Energy N.L. conference

CBC

3 days ago

As industry leaders and specialists gather in St. John's for an annual energy industry conference, the spotlight is focused on a new hydroelectric agreement being forged between Newfoundland and Labrador and Quebec.
Energy N.L.'s annual conference runs until Thursday at the St. John's Convention Centre. According to the event's schedule, much of the focus will be on what's happening in central Labrador.
The new Churchill Falls agreement is expected to be finalized by 2026. Government and industry officials are looking to develop more hydroelectric capacity on the Churchill River, which includes developing Gull Island, first announced in December.
The first session delves into the three energy industries — oil and gas, wind-hydrogen and hydroelectricity — and how Newfoundland and Labrador fits into a global market.
That's followed by a session focused on the Churchill Falls megaproject and the economic opportunities the memorandum of understanding between Newfoundland and Labrador Hydro and Hydro-Quebec could offer.
Hydro-Quebec CEO Michael Sabia and Newfoundland and Labrador Hydro CEO Jennifer Williams will sit on a panel in the afternoon to discuss details about the deal.
"The discussion will focus on why and how the MOU came together, the nation-building benefits of the proposed infrastructure projects — with a specific focus on Newfoundland and Labrador and Quebec — and the long-term impacts of increased hydroelectric capacity for Newfoundland and Labrador, and beyond," reads a synopsis on the conference's website.
Wind-hydrogen hype
The conference's second day will focus on renewable energy, particularly wind-hydrogen.
Representatives from the six companies interested in establishing wind-hydrogen projects in the province — Everwind Fuels, Pattern Energy, World Energy GH2, North Atlantic, EVREC and ABO — will be on a panel to speak about the sector and its challenges.
During last year's conference, the spotlight was on the nascent wind-hydrogen sector. However, since then much of the hype around wind-hydrogen has subsided. Many of the projects have downsized or are exploring alternative business cases for a wind energy farm.
Earlier this year, World Energy GH2 revised its plans for a wind project on Newfoundland's west coast, pivoting from a previously proposed green hydrogen and ammonia plant, to focus on data centres and e-fuel production.
Other companies have been granted extensions by the provincial government for the millions owed to the treasury for Crown land reserve fees.
Global pressure
But optimism around the province's energy sector remains.
Energy N.L. said Newfoundland and Labrador "has a strategic advantage in sharing its lower carbon energy with the world."
There's also acknowledgement of ongoing economic uncertainty.
The conference website says there's "current context of the resurgence of protectionist trade policies around the globe," a possible allusion to the ever-fluctuating trade war instigated by U.S. President Donald Trump.
One of the conference's final sessions will focus on Newfoundland and Labrador's place in the global market, the opportunities that exist and the "resiliency" needed to navigate the changes.