Focusing on initiatives that benefit everyone

Acquiring renewable energy assets

We are in a highly competitive marketplace where many players, including major institutional investors, are battling it out for the most attractive opportunities to acquire renewable energy assets. Against this backdrop, we have chosen to focus our efforts on the assets that will benefit most from our investments.

To that end, we will:

• Prioritize assets located in a geographical area of interest to Hydro-Québec

• Focus on assets that are consistent with our overall corporate strategy

• Invest in projects that leverage and build on our expertise

• Pursue projects with proven and justifiable economic rationale

• Favor the active participation of trusted partners

Partnerships for wind power

In April 2022, Hydro-Québec announced it was teaming up with Boralex and Énergir for the Des Neiges projects, which involve the development of three 400-MW wind farms on the territory of the Seigneurie de la Côte-de-Beaupré. The facilities could be commissioned by the end of 2026. Construction of the wind farms will generate significant economic benefits thanks to the creation of over 1,500 jobs during the construction period and investments totaling approximately $3 billion. Hydro-Québec’s participation reflects its desire to play a more active role in the development of Québec’s wind power industry.

Certification of hydroelectric facility sustainability

Hydro-Québec has begun a process to certify its practices according to the new Hydroelectricity Sustainability Standard. Eastmain-1 and Bernard-Landry generating stations were selected for this review, which will be conducted by assessors accredited by the Hydropower Sustainability Council.

The assessors reviewed hundreds of documents, conducted dozens of interviews and visited the generating stations and their surroundings during a September 2022 field audit. The facilities were evaluated on 12 types of social, environmental and governance issues touching on everything from management structure to preserving biodiversity.

The stakeholders and host communities consulted were given an opportunity to comment on the assessment report. We expect to receive the Council’s decision in the coming months.

Hydro-Québec also entered into partnerships with the Alliance de l’Est (a group composed of the Régie intermunicipale de l’énergie du Bas-SaintLaurent, which includes eight regional county municipalities (MRCs) and the Wolastoqiyik Wahsipekuk First Nation; the Régie intermunicipale de l’énergie Gaspésie–Îles-de-la-Madelaine, which includes six MRCs; the MRC of Montmagny and the MRC of L’Islet) and two wind energy project proponents.