Canada to Invest $50.5B in Renewables

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Canada has announced a CAN$70 billion ($50.5 billion) clean energy investment focused on expanding renewable power, including hydropower and wind, through an agreement involving the federal government, Quebec and Newfoundland and Labrador.

The centerpiece is an expansion of the Churchill Falls hydroelectric station in Labrador, which is expected to nearly triple its generating capacity. The agreement also includes new hydro and wind projects and plans to share electricity between the two provinces. Ottawa will contribute CAN$10 billion ($7.21 billion), with additional funding expected from utilities, provincial partners and industrial developers.

Prime Minister Mark Carney called the package the “largest clean energy investment in North American history,” saying it will deliver “clean, reliable, and affordable power.” The projects could also enable Newfoundland and Labrador to export renewable electricity through Quebec to U.S. markets.

Source: aa.com.tr