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Canada Unveils $50 Billion Clean Energy Projects With Hydro-Quebec, Newfoundland, Labrador Hydro

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Canada unveiled a major clean energy agreement with Hydro-Quebec and Newfoundland and Labrador Hydro to expand Churchill Falls and develop Gull Island, Prime Minister Mark Carney's office said Monday.

Carney announced the agreement alongside Quebec premier Christine Frechette, Newfoundland and Labrador premier Tony Wakeham, and the chief executives of Hydro-Quebec and Newfoundland and Labrador Hydro.

Under the agreement, the federal government will provide CA$10 billion ($7.21 billion) in financing to upgrade and expand Churchill Falls, develop Gull Island, build transmission lines and support co-investment with the Innu of Labrador.

The combined projects represent almost CA$70 billion in clean energy investment and will generate 14,000 megawatts of renewable power, nearly tripling Churchill Falls' current generating capacity.

The projects will produce enough electricity to power the homes in Toronto, Montreal and Vancouver combined, while supporting 23,000 jobs across skilled trades, engineering and other areas.

The investment will also contribute CA$31 billion to Canada's gross domestic product through the early 2040s, supporting broader economic activity alongside the country's clean energy expansion.

Canada will refer the Labrador Trough corridor to the Major Projects Office to coordinate financing, accelerate permitting and build Indigenous partnerships.

The government aims to use expanded clean power infrastructure to support mining activity and create higher-paying Canadian jobs.

Natural Resources Canada will fund strategic pre-development work through the First and Last Mile Fund, including the Labrador West Transmission Expansion, to assess grid connections for critical minerals mines in western Labrador.

"Through cooperative federalism, we are unlocking our immense potential, building big, building sustainably, building in partnership, and building Canada strong for all," Carney said.

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