Nalcor Energy

Last updated
Nalcor Energy
Company type Crown Corporation
Industry Energy
Founded2007 in St. John's, NL
Defunct2021  OOjs UI icon edit-ltr-progressive.svg
FateFolded into Newfoundland and Labrador Hydro
HeadquartersSt. John's, NL, Canada
Key people
Stan Marshall (President & CEO) [1] Brendan Paddick (Chair of the Board) [2]
RevenueIncrease2.svg Can$1 Billion (2019) [3]
Increase2.svgCan$132 Million (2018) [3]
Total assets Increase2.svgCan$19.3 Billion (2018) [3]
Owner Government of Newfoundland and Labrador
Website www.nalcorenergy.com

Nalcor Energy was an energy corporation which headquartered in St. John's, Newfoundland and Labrador. A provincial Crown corporation under the Government of Newfoundland and Labrador, Nalcor Energy was created in 2007 to manage the province's energy resources.

Contents

The company had distinct business lines comprising Newfoundland and Labrador Hydro, the Churchill Falls Generating Station, the Lower Churchill Project, energy marketing, oil and gas development, and The Bull Arm Fabrication Site. [3]

On June 23, 2021, Premier Andrew Furey announced Nalcor Energy would be dismantled and folded into NL Hydro, previously a subsidiary of Nalcor. [4]

Operations

Hydro

Newfoundland and Labrador Hydro, commonly shortened to "Hydro", was originally a subsidiary of Nalcor, generating and delivering electricity for Newfoundland and Labrador, as well as parts of Quebec and the north-eastern United States. It also delivers voice and data telecommunications services to customers in some areas. [5] [6]

Hydro itself is the parent company of the Hydro Group of Companies, which comprises:

The Upper Churchill Falls Generating Station

The Churchill Falls Generating Station is one of the largest underground powerhouses in the world. The plant has 11 turbines with a rated capacity of 5,428 megawatts. [7] Nalcor controlled a 65.8% share of the Churchill Falls Labrador Corporation Limited, the owner of the Churchill Falls station while Quebec's government-owned utility, Hydro-Québec, owns the remaining shares.

Lower Churchill Project

The Lower Churchill Project is a planned project to develop the remaining 35% of the Churchill River, that has not already been developed by the Upper Churchill Falls Generating Station. The Lower Churchill's two installations at Gull Island and Muskrat Falls will have a combined capacity of over 3,000 MW. [8] [9]

Oil and Gas

Nalcor Energy's Oil and Gas division held and managed oil and gas interests in the Newfoundland and Labrador onshore and offshore oil developments. The company is currently a partner in three offshore developments - the Hebron oil field, the White Rose Growth Project and the Hibernia Southern Extension. [10] A $20 million onshore drilling exploration program in Parsons Pond in western Newfoundland is also being operated by Nalcor - Oil and Gas. [11]

Bull Arm Fabrication

The Bull Arm Fabrication site was developed in the early 1990s and is Atlantic Canada's largest industrial fabrication site. The site is located 150 kilometers west of St. John's, Newfoundland and Labrador. The Hibernia oil field's gravity base structure was constructed at the site, as well work on the two Floating Production Storage and Offloading (FPSO) vessel's for the Terra Nova oil field and the White Rose oil field were done here. [12]

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References

  1. ↑ "Stan Marshall, Nalcor's new CEO, 'deeply troubled' by Muskrat Falls". CBC News. April 21, 2016. Retrieved September 10, 2020.
  2. ↑ "Brendan Paddick named new chair of Nalcor board". CBC News. November 29, 2016. Retrieved September 10, 2020.
  3. 1 2 3 4 "Annual report 2019" (PDF). Nalcor. Retrieved September 10, 2020.
  4. ↑ "Nalcor Energy to be no more: Crown corporation being folded into N.L. Hydro". CBC News . June 23, 2021.
  5. ↑ NL Hydro press release regarding voice and data services Archived 2011-07-18 at the Wayback Machine 2009-11-05
  6. ↑ "Nalcor Energy Website - Hydro" . Retrieved 2009-11-05.[ permanent dead link ]
  7. ↑ "Nalcor Energy Website - Churchill Falls at a Glance" . Retrieved September 10, 2020.
  8. ↑ "Nalcor Energy Website - Project Overview" . Retrieved September 10, 2020.
  9. ↑ "Lower Churchill Project Website". Archived from the original on March 15, 2009. Retrieved 2009-10-05.
  10. ↑ "Nalcor Energy Oil and Gas - Our Strategy" . Retrieved 2009-10-05.
  11. ↑ "CBC - Nalcor to spend $20M on oil exploration". CBC News. 2009-08-07. Retrieved 2009-10-05.
  12. ↑ "Bull Arm Website" . Retrieved 2009-10-05.
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