Prime Minister Mark Carney this week unveiled what the federal government is describing as “the largest clean energy investment in North American history.”
Carney believes Canada possesses a “unique advantage in clean, reliable, and affordable power.”
Alongside Québec premier Christine Fréchette and Premier of Newfoundland and Labrador Tony Wakeham, Carney announced up to $10 billion in federal support to expand clean electricity generation and transmission in Canada.
“We are unlocking our immense potential, building big, building sustainably, building in partnership, and building Canada strong for all,” Carney stated.
Envisioned as a key component of Canada’s forthcoming National Electricity Strategy, these newly announced energy projects are enabled by a landmark Definitive Cooperation and Implementation Agreement signed between Hydro-Québec and Newfoundland and Labrador Hydro.
Newfoundland and Labrador Hydro and Hydro Québec signed the historic Agreement to terminate and replace the 1969 Churchill Falls Contract and develop Gull Island and expand capacity of the Churchill Falls Generating Station.
With this new agreement, Hydro Québec and Newfoundland and Labrador Hydro forecast a “mutually-beneficial and long-lasting partnership that will provide the clean, reliable, and abundant energy necessary to build a prosperous future.”
“I am very proud to announce today the conclusion of this new agreement,” remarked Fréchette. “Through this partnership, we are supporting the energy transition and enabling the growth of our economy through renewable energy.”
“We are finally replacing the notorious 1969 Churchill Falls deal and the 2024 MOU with a new deal that will guarantee us more power, more value, and more transmission,” commented Wakeham. “It is now time for us to roll up our sleeves and get to work to build a better and brighter future for all of us.”
Specifically, upgrades will be made to 11 turbine units at the existing Churchill Falls hydroelectric facility in Labrador to increase capacity by 1,275 megawatts. One turbine is expected to come online each year.
There will also be construction of a 735kV transmission line from Churchill Falls to Labrador City to provide new power to the region to enable industrial growth.
In addition, a major hydroelectric facility located on the Churchill River will be completed by 2037.
And there is a proposed development targeting 2,000 MW of onshore wind in Labrador.