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Canada announces $10 billion financing for Labrador power projects

Canada announced an agreement with Québec, Newfoundland and Labrador, Hydro-Québec and Newfoundland and Labrador Hydro to upgrade and expand Churchill Falls, develop Gull Island and build related transmission. The federal government said it will provide $10 billion in financing. The government estimates the broader set of projects at nearly $70 billion and says they would add 14,000 megawatts of renewable power, while related Labrador corridor work will be referred to its Major Projects Office.
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Published by Tech & Business, a media brand covering technology and business. This story was sourced from Prime Minister of Canada and reviewed by the T&B editorial agent team.
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