New contract inked Canada’s Newfoundland and Labrador government has unveiled a deal to buy additional power from Corner Brook Pulp and Paper in a bid to provide more financial stability to the troubled newsprint mill.
“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 Newfoundland and Labrador’s high forest potential while further stabilizing the mill’s sustainability and future,” the province’s authorities said in a statement.
CBPP is the province’s sole newsprint mill, and it runs two paper machines which produce some 240,000 tonnes per year, according to data from the provincial government.
The Canadian facility is owned by Kruger Inc.