Finance

Iberdrola commissions $1.65 billion Canada-U.S. power interconnection

Published by Global Banking & Finance Review

Posted on January 16, 2026

1 min read

· Last updated: January 19, 2026

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Iberdrola commissions $1.65 billion Canada-U.S. power interconnection
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MADRID, Jan 16 (Reuters) - Spain's Iberdrola said on Friday it has commissioned a $1.65 billion Canada-US power interconnection carrying enough hydroelectric power from Quebec to the New England

Iberdrola Launches $1.65 Billion Power Link Between Canada and U.S.

Overview of the Power Interconnection Project

MADRID, Jan 16 (Reuters) - Spain's Iberdrola said on Friday it has commissioned a $1.65 billion Canada-US power interconnection carrying enough hydroelectric power from Quebec to the New England region to supply almost 10% of all electricity consumed in Massachusetts.

Project Details

The 233-kilometer high-voltage line, called New England Clean Energy Connect, has a capacity of 1,200 megawatts and has already started to transport energy, the company said.

Impact on Energy Costs

It will reinforce the reliability of the electricity system and help reduce energy costs, it said.

Reliability of the Electricity System

(Reporting by Pietro Lombardi; editing by Charlie Devereux)

Key Takeaways

  • Iberdrola launches a $1.65 billion power interconnection.
  • The project connects Quebec and New England.
  • It supplies nearly 10% of Massachusetts' electricity.
  • The line has a capacity of 1,200 megawatts.
  • The project aims to reduce energy costs.

Frequently Asked Questions

What is hydroelectric power?
Hydroelectric power is electricity generated by using the energy of flowing water, typically from rivers or dams, to turn turbines that produce electricity.
What is renewable energy?
Renewable energy is energy derived from natural sources that are replenished at a faster rate than they are consumed, such as solar, wind, and hydropower.

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