Government signs agreement with Corner Brook Pulp and Paper to buy excess power from Deer Lake

Friday, 15 March 2024 15:25

By Tonya Organ

In turn, CBPP will work to identify new revenue sources from viable wood-based bioproducts projects in order to unlock the province’s high forest potential while further stabilizing the mill’s sustainability and future.

The provincial government has entered into an agreement to purchase additional power to further support the electricity grid, and to help stabilize Corner Brook Pulp and Paper Limited (CBPP), its workers and the forestry industry during challenging conditions in the global newsprint market. The six-month agreement includes Newfoundland and Labrador Hydro (Hydro) purchasing excess green energy from CBPP’s Deer Lake Power assets. In turn, CBPP will work to identify new revenue sources from viable wood-based bioproducts projects in order to unlock the province’s high forest potential while further stabilizing the mill’s sustainability and future. As well, government and CBPP have reached an agreement with respect to security, workforce and diversification. CBPP has committed to offer for sale saw logs to the three large sawmills in line with CBPP annual operating plans submitted to the Department of Fisheries, Forestry, and Agriculture. These saw log sales are essential for the stability of the forest sector.

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