Prime Minister Mark Carney and Atlantic Premiers Announce $70 Billion Churchill Falls Hydro Accord

ST. JOHN'S, NL — Prime Minister Mark Carney joined Newfoundland and Labrador Premier Tony Wakeham and Quebec Premier Christine Fréchette to sign a historic trilateral $70 billion clean energy development pact unlocking over 5,000 megawatts of clean baseload hydroelectric capacity along the Churchill River basin.

Unlocking Clean Baseloader Energy and Continental Transmission

The agreement settles decades of interprovincial power disputes, committing $10 billion in federal Canada Infrastructure Bank loan guarantees and direct equity to refurbish the existing Churchill Falls Generating Station and construct the 2,250-megawatt Gull Island generation facility. The transmission corridor will supply clean electricity to eastern Canadian manufacturing hubs and Atlantic regional grids.

Prime Minister Carney stated that Churchill Falls represents the largest clean energy infrastructure investment in Canadian history, securing energy independence and long-term industrial competitiveness.

Interprovincial Economic Distribution and Indigenous Equity

Indigenous First Nations in Labrador secured equity co-ownership and direct revenue-sharing frameworks for all new transmission corridor leases.

Industrial business associations in Quebec and Atlantic Canada praised the generation accord for lowering long-term industrial electricity costs.

Engineering Groundbreaking Milestones

Early civil site preparation and environmental impact reviews will commence in spring 2027.