The Government of Newfoundland and Labrador today announced that an agreement between Newfoundland and Labrador Hydro and Corner Brook Pulp and Paper Limited (CBPP) has been extended until March 31, 2026.

The extended agreement will see Hydro continue to purchase excess green energy from CBPP’s Deer Lake Power assets. In turn, CBPP will continue its efforts to identify new revenue sources from viable wood-based projects to unlock Newfoundland and Labrador’s high forest potential while further stabilizing the mill’s sustainability and future.

The agreement will provide Hydro with flexibility to draw upon energy generated from CBPP’s existing power generation facilities when needed, particularly during winter months. The agreement will have no impact on ratepayers.

The Provincial Government remains optimistic about the forestry industry and continues to have ongoing discussions with CBPP.

Quotes
“Corner Brook Pulp and Paper Limited is an important and long-standing part of our province’s forest industry. Our government continues to work to support growth and diversification in this important sector.”
Honourable Lisa Dempster
Minister of Fisheries, Forestry and Agriculture.

“We continue to support Corner Brook Pulp and Paper Limited’s efforts in diversifying and identifying new revenue sources for its operations.”
Honourable Siobhan Coady
Minister of Finance

“The extension of this agreement will provide CBPP additional time to explore opportunities for long-term sustainability for employees of the mill and the forestry industry.”
Honourable Steve Crocker
Minister of Industry, Energy and Technology

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