PM Carney announces $70B Churchill Falls expansion, largest clean energy investment in North American history
PM Carney announces largest clean energy investment in North American history
Prime Minister Mark Carney, along with Quebec and Newfoundland and Labrador premiers and utility CEOs, announced a historic agreement to upgrade and expand the Churchill Falls Generating Station and develop the Gull Island hydroelectric project. The federal government will provide $10 billion in financing, unlocking nearly $70 billion in total investment—the largest clean energy investment in North American history. The projects will generate 14,000 megawatts of clean power, support 23,000 jobs, and contribute $31 billion to Canada's GDP. The deal also includes co-investment with the Innu of Labrador for wind power and transmission lines, and the Labrador Trough corridor referral to the Major Projects Office.
“Canada is extending its unique advantage in clean, reliable, and affordable power. Because when we master energy, we master our destiny. Through cooperative federalism, we are unlocking our immense potential, building big, building sustainably, building in partnership, and building Canada strong for all.”