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.”
- NishanStepak
A major contributing factor to what is being described is the development of superconducting technology. This is includes high temperature superconducting wind turbines, superconducting hydroelectric turbines, and superconducting transmission lines. From reading the outline, it looks like this project will capitalize on these new technologies.
- sleepyguy
14 Gigawatts for 70 Billion? Is that a good dollar value?
An announcement means nothing unless it is followed through. It's results that matter. Carney likes to make a lot of announcements but there have been no results or even the start of any of these announcements.
I am of the opinion this is much to do about nothing, like every other announcement made by not just Carney but his predecessors. It's all just theater for the masses.
Why not just do it, like they did it decades ago, why does it have to be some kind of announcement or is this just a political ploy to garner more support while doing nothing?
I don't believe anything any of these guys say because talk is cheap and building anything in Canada is nearly impossible.
Junk away....
- hn_throwaway_99
It's really ironic I think that Donald Trump, despite his "drill baby drill" rhetoric and paying billions of dollars to halt wind projects, will likely be responsible for the largest surge in clean energy developments in history.
Trump has shown that the US can not be trusted and is not a reliable ally, and his Iran-scapade, like Russia's invasion of Ukraine before it, has shown every other country that the absolute worst thing you can do is be dependent on energy imports from despotic nations (US now included) and volatile areas of the world. All these countries are racing to wean themselves off fossil fuels as fast as possible, largely due to Trump.
- diego_moita
Well, finally!
One of the reasons I voted for him were his environmental credentials. But what he did since elected was cozying up with Alberta and their oil barons.
- nish__
At the end of the day, nothing beats hydro electric power. It's hidden, consistent and the technology is very mature. Really the OG of renewable energy. If we could get our appliances running efficiently enough, I think we could run the whole grid on it.