Nalcor debuts as new name of N.L. energy corporation

The Newfoundland and Labrador government's new energy corporation has been given a makeover, with a new name and a logo to match.

Nalcor Energy is the new name of a Crown corporation which will manage what Premier Danny Williams described as the "boundless energy" the province has to offer.

Nalcor will manage not only Newfoundland and Labrador Hydro, but the province's oil and gas interest and its expanding interests in renewable energy, including wind power.

Williams said the rebranding of Nalcor is intended to spark international interest. 

"The new logo helps us to embody the essence of energy, which is balance and movement and transformation," Williams said during a launching ceremony Thursday.

"This motion is representative of the flow of energy — wind, water and oil."

The province created a new overseeing energy corporation as part of a wide-ranging platform unveiled last year.

The president and chief executive officer of Nalcor is Ed Martin, who held similar positions at Newfoundland and Labrador Hydro.

Nalcor also takes ownership of the Bull Arm Corp., which manages an industrial site in Trinity Bay that is best known for producing the gravity-based structure of the Hibernia platform.

Williams said the rebranding of Nalcor will cost about $275,000.