Beothuk will continue to lead development at St. George's Bay until a PPA has been obtained, at which time CIP will take the lead in bringing the project to financial close and then through the construction phase.

According to Beothuk, CIP has committed to invest all the capital required to construct the C$400 ($302m) project, which would be built off the west coast of Newfoundland in water depths of just 25 metres.

Beyond