PM Carney announces major investment in clean energy

Chamber of Shipping > Blog > News > Government > PM Carney announces major investment in clean energy

The Government of Canada has announced what it describes as the largest clean energy investment in North American history, with nearly $70 billion in combined projects to expand hydroelectric generation and transmission infrastructure in Labrador. The initiative includes up to $10 billion in federal financial support, upgrades to the Churchill Falls generating station, development of the 2,700 MW Gull Island hydroelectric project, and new transmission infrastructure to support growing electricity demand and critical minerals development in the Labrador Trough. The agreement, signed by Hydro-Québec and Newfoundland and Labrador Hydro, is expected to create thousands of jobs, strengthen Canada’s clean energy capacity, support Indigenous and regional economic development, and help advance the country’s goal of doubling electricity grid capacity by 2050. The federal government is also investing nearly $20 million in feasibility studies for mining-enabling infrastructure aimed at unlocking future resource development opportunities.

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