Provincial Government Issues Non-Binding Letter of Intent Regarding Buchans Generation Station Assets

Press Release

March 13, 2025

The Honourable Andrew Parsons, KC, Minister of Industry, Energy, and Technology, today announced that the Provincial Government has provided a non-binding Letter of Intent to indicate a willingness to discuss the divestment of the Buchans generation station assets for future development. The letter was issued to a consortium consisting of the Qalipu First Nation, Qalipu Holdings LP, Growler Energy Inc., and Angler Solutions Inc.

With letters of intent in place from both Newfoundland and Labrador Hydro, the Town of Buchans and the Provincial Government, the consortium will now undertake initial planning activities, including a detailed feasibility analysis.

Any future decision by the Provincial Government to divest of the Buchans generation station assets would be subject to the outcome of the consortium’s analysis, the consortium reaching commercial terms with Newfoundland and Labrador Hydro on a power purchase agreement for the Buchans generation station energy and capacity and reaching mutually agreeable terms between all parties.

The Provincial Government’s Renewable Energy Plan states that the province is open to, and pursuing, additional opportunities to support the renewable energy priorities of Indigenous Governments and Organizations in Newfoundland and Labrador.

Quote
“I am pleased to provide this non-binding letter of intent to the consortium to discuss the divestment of the Buchans generation station assets for future development, which reflects out support for Indigenous and Community-led Renewable Energy Projects. While this is very early in the process, I am encouraged about the potential economic benefit for Buchans and surrounding communities.”
Honourable Andrew Parsons, KC
Minister of Industry, Energy and Technology

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