Hydro-Québec will invest C$155 to $185 billion by 2035 and install 8,000 to 9,000 megawatts of new grid capacity, including 3,800 to 4,200 MW of new hydroelectric generation, under a new action plan released Thursday that pledges a decarbonized grid and a reliable, affordable power supply.
“Climate change is intensifying and we must take action,” President and CEO Michael Sabia said in a release. “Québec’s clean electricity will be the driving force of the energy transition,” under a sweeping plan to “replace fossil fuels by clean electricity, create sustainable prosperity, and place customers at the heart of our decisions.”
All told, the action plan [pdf] allocates $90 to $110 billion to meet a predicted doubling of electricity demand by 2050, a total of 150 to 200 terawatt-hours (TWh) of new demand, plus $45 to $50 billion to increase system reliability and $20 to $25 billion for other operating expenses. In addition to the proposed new hydropower capacity, the utility says it will add 1,500 to 1,700 MW of new wind power and 500 to 1,000 MW of solar and storage, while saving 1,600 to 1,800 MW through energy efficiency measures. It also plans to convert 550-MW gas plant in Bécancour to generate 400 to 600 MW from renewable natural gas for “occasional use during peak periods”.
The plan assigns 40% of the new capacity to meet rising power demand in buildings and transportation and 35% to decarbonize industry, while setting aside 25% for future economic growth.
Read more about Hydro-Québec's big reveal here.