Canada unveils $730 billion clean energy strategy

OTTAWA, (UrduPoint / Pakistan Point News / WAM - 15th May, 2026) Canadian Prime Minister Mark Carney unveiled a new clean electricity strategy aimed at doubling Canada’s electricity grid by 2050 and reducing energy costs for most Canadian households.

Speaking during a press conference in the capital Ottawa, Carney said Canada faces growing challenges, including US tariffs, rising energy prices and the impacts of climate change, stressing that “the world is changing fundamentally, requiring new solutions”.

The plan includes expanding reliance on diversified energy sources, including hydroelectric, nuclear, wind and solar power, alongside natural gas, carbon capture and geothermal energy.

The cost of implementing the energy infrastructure projects is expected to exceed one trillion Canadian Dollars, equivalent to around US$730 billion. Carney noted that the scale of the project and the tight timeline require a more flexible approach away from traditional constraints.