Corner Brook Pulp and Paper Ltd. in Corner Brook. – Diane Crocker/SaltWire Photo by Diane Crocker/THE TELEGRAM FILE PHOTOArticle contentThe provincial government has extended an agreement on the purchase of energy from Corner Brook Pulp and Paper by NL Hydro by six months.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY.Subscribe now to access this story and more:Unlimited access to the website and appExclusive access to premium content, newsletters and podcastsFull access to the e-Edition app, an electronic replica of the print edition that you can share, download and comment onEnjoy insights and behind-the-scenes analysis from our award-winning journalistsSupport local journalists and the next generation of journalistsSUBSCRIBE TO UNLOCK MORE ARTICLES.Subscribe or sign in to your account to continue your reading experience.Unlimited access to the website and appExclusive access to premium content, newsletters and podcastsFull access to the e-Edition app, an electronic replica of the print edition that you can share, download and comment onEnjoy insights and behind-the-scenes analysis from our award-winning journalistsSupport local journalists and the next generation of journalistsRegister to unlock more articles.Create an account or sign in to continue your reading experience.Access additional stories every monthShare your thoughts and join the conversation in our commenting communityGet email updates from your favourite authorsSign In or Create an AccountorArticle contentThe extended agreement, announced on Wednesday, Sept. 10, will see NL Hydro continue to purchase excess green energy from the company’s Deer Lake Power assets.Article contentArticle contentIn turn, Corner Brook Pulp and Paper will continue 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.Article contentArticle contentAccording to a press release from the province, the agreement, which has been extended to March 31, 2026, will provide NL Hydro with flexibility to draw upon energy generated from the company’s existing power generation facilities when needed, particularly during winter months.Article contentThe agreement will have no impact on ratepayers.Article contentKruger, Corner Brook Pulp and Paper’s parent company, announced a plan to invest $700 million to transform the paper mill in Corner Brook into a modernized and sustainable manufacturing complex in July.Article contentAt the time, the company said the project would promote the expansion of the provincial sawmill industry, provide energy and power capacity for NL Hydro, while sustaining jobs for Corner Brook Pulp and Paper operations and the provincial forestry sector.Article contentThe company also said its plan was contingent on timely endorsement by key industry partners and that it was in discussions with the province.Article contentArticle contentWednesday’s press release said the province remains optimistic about the forest industry and continues to have ongoing discussions with the company.Article contentArticle contentIndustry, Energy and Technology Minister Steve Crocker said the extension of the agreement will provide Corner Brook Pulp and Paper additional time to explore opportunities for long-term sustainability for employees of the mill and the forestry industry.Article contentSupporting the company in its efforts to diversify and identify new revenue sources for its operations is something that Finance Minister Siobhan Coady said the province continues to do.Article contentAgriculture Minister Lisa Dempster said the company is an important and long-standing part of the province’s forest industry.Article content“Our government continues to work to support growth and diversification in this important sector,” said Dempster.Article content
NL government extends agreement with Corner Brook Pulp and Paper
