Newfoundland and Labrador is embarking on an exciting new chapter for its iconic Bull Arm fabrication site. North Atlantic has signed a non-binding Memorandum of Understanding (MOU) with the provincial government to lease and operate the large industrial site in Trinity Bay.

This agreement aims to turn Bull Arm into a center for green energy, encouraging cooperation with private and public partners to support the energy transition. While current oil and gas operations will continue, the site will become an important hub for renewable energy projects such as wind energy and green hydrogen research. The 25-square-kilometer facility, known for its deep-water port and large fabrication capabilities, is also expected to contribute significantly to national defense projects.

The lease agreement is designed to protect the provincial government's interests while providing North Atlantic the flexibility needed to attract investment and business. This venture is anticipated to create well-paying jobs, retain the province's skilled trade workforce, and further position Newfoundland and Labrador as a leader in energy and industrial innovation. North Atlantic will cover operational and maintenance costs, with a share of profits and wind development royalties going back to the province.

What does this mean for Pedal & Shift?

These actions by North Atlantic are real, tangible actions towards the development of the emerging onshore wind sector in Newfoundland and Labrador. 

We are excited about their vision, the scale of ambition and the many opportunities for business across the region that will come from this plan. North Atlantic’s news of the recent purchase of a refinery in France appears to align very well with the plans for Bull Arm and the wind project development. 

Pedal & Shift is closely following this progress, engaging in the industry, and confident there will be opportunities for our clients and many businesses in the region as this sector becomes more and more tangible.

For more details, you can refer to the following sources: 

• North Atlantic enters non-binding MOU with N.L. government to lease Bull Arm fabrication site | CBC News
• Special Announcement - North Atlantic
• Provincial Government Enters MOU with North Atlantic for Lease of Bull Arm Site - News Releases