Hydro Investment Deals
Canada Has Announced Its $70 Billion Canadian Clean Energy Agreement
Adam Harrie — August 20, 2026
The Government of Canada announced its Canadian clean energy agreement valued at nearly C$70 billion to support hydroelectric and wind projects, which Prime Minister Mark Carney called the largest clean energy investment in North American history. The agreement includes up to C$10 billion in federal financial support for projects expected to generate 14 GW of renewable power across Québec and Newfoundland and Labrador.
Key projects include upgrades to the Churchill Falls hydroelectric facility, increasing capacity by up to 2.5 GW; construction of the new 2.7 GW Gull Island hydroelectric facility; and 2 GW of proposed onshore wind development in Labrador, alongside transmission infrastructure connecting the projects to Québec and Labrador City.
This agreement signals how large-scale hydroelectric and wind investment is becoming central to the country's push for both energy independence and long-term economic growth through renewable power.
