(Montreal) Hydro-Québec’s investment plan could “wake up” the other Canadian provinces which will also have to invest massively in renewable energies, hopes the boss of Innergex.
Michel Letellier emphasized that Quebec was a step ahead of other Canadian provinces since a greater part of its energy consumption came from hydroelectricity.
“In Quebec, approximately 42% of energy consumption is hydroelectricity. If Hydro-Québec must double its electricity production by 2050, imagine the other provinces, where renewable energy probably represents less than 30% in several markets in Canada. »
The delay of other Canadian provinces represents a business opportunity for private producers of renewable energy like Innergex, estimated its CEO. “We are very optimistic for Canada. Ontario, British Columbia, Saskatchewan and New Brunswick are our preferred markets (along with Quebec). »
Mr. Letellier expects that the majority of contracts obtained from Hydro-Québec will be in the wind energy sector. He also sees the possibility of obtaining contracts in the solar sector, or even opportunities for small hydroelectric plants.
Hydro-Québec plans to invest between 155 billion and 185 billion by 2035. Approximately 35,000 construction workers per year will have to be mobilized for the construction of the new infrastructure, according to estimates from the state-owned company.