Nalcor Energy is listed as a “Crown Corporation”, operating as a private entity in the Canadian regions of St. John’s, Newfoundland and Labrador. The company was founded in 2007 for the purpose of helping to manage the province’s energy needs. Operations are maintained through the following five subsidiaries: Newfoundland and Labrador Hydro, the Churchill Falls Generating Station, The Lower Churchill Project, Oil and Gas and The Bull Arm Fabrication Site.
Nalcor’s most prominent and important subsidiary would have to be Newfoundland and Labrador Hydro. The company maintains responsibility for taking care of the energy needs (delivery of electricity) to most regions in both Newfoundland and Labrador, as well as in some of the northern most regions of the United States. As a utility provider, the company also provides voice and data services to customers in some of the regions most remote areas.
Some of Nalcor’s other important projects include the Churchill Falls Generating station, which has 11 turbines with a rated capacity of 5,428 megawatts, the Lower Churchill Project, which is focused on the continued development of another 35% of the area surrounding the upper Churchill business venture, and the exploration and development of oil and gas resources in the Hebron oil field, the White Rose Growth Project and the Hibernia Southern Extension. The company is also participating in a $20 million onshore oil and gas drilling exploration program in Parsons Pond region of western Newfoundland
Nalcor Energy maintains is primary headquarters in St. John’s, Newfoundland and Labrador, Canada. The company’s primary leaders include Stan Marshall (President & CEO) and Brendan Paddick (Chair of the Board. While financial data is not readily available due to the company’s status as a private provincial entity, the company has reported recent revenues of approximately $811,900,000 CAN and an assets base of $13,695,900,000 CAN.