Quebec’s government has chosen former pension fund head Michael Sabia as the next chief executive officer of Hydro-Quebec, according to people familiar with the matter.
Sabia has been tapped to succeed Sophie Brochu, who left as head of the electrical utility in April. The appointment could be made official as soon as Wednesday after formal approval from Quebec’s cabinet, the people said, speaking on condition they not be named because the matter is still private.
Hydro-Quebec is an important producer and exporter of hydroelectric power, pumping $6 billion into provincial government coffers last year. But it has major challenges ahead. After spending years working to convince US states to buy its abundant clean energy, the government-owned firm faces the prospect of future power shortfalls as the province lures more manufacturers. One of the projects Hydro-Quebec has committed to is the Champlain Hudson Power Express, Blackstone Inc.
Sabia was CEO of the Caisse de Depot et Placement du Quebec, Canada’s second-largest public pension manager, from 2009 to 2020, leading the institution into an investment of more than $7 billion in a light rail system in Montreal, the Reseau Express Metropolitain. Prior to his time at the Caisse, he was CEO of BCE Inc., the country’s largest telecommunications company.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ford to buy lithium for electric car batteries from Quebec's Nemaska LithiumMONTREAL — A Quebec company building a lithium mine and production plan has signed an 11 year deal to sell products to Ford for use in electric car batteries.
Read more »
Wildfire resources from Quebec land in Sask. to bolster firefighting effort | CBC NewsThe Quebec government sent two water tankers, plus four pilots and two engineers, to bolster the wildfire battle in Saskatchewan, a spokesperson for the Saskatchewan Public Safety Agency says.
Read more »
After ‘disgraceful’ remarks, First Nations leaders call on Quebec MNA to resign | Globalnews.caPierre Dufour, a Coalition Avenir Quebec MNA, has come under fire for his comments during a city council meeting in Val-d'Or last week.
Read more »
Ford to buy lithium for electric car batteries from Quebec's Nemaska LithiumOntario to buy Ford up to 13,000 tons a year of lithium hydroxide produced by Nemaska Lithium
Read more »
FE Battery Metals advances on Quebec lithium results – Canadian InvestorFE Battery Metals advances on Quebec lithium results CanadiansInvest
Read more »
'Shows the project is solid,' Quebec-based lithium producer says after deal with FordA Quebec\u002Dbased lithium producer that previously failed to get off the ground received a boost from a deal with auto giant Ford. Read on.
Read more »