Details of the Churchill Falls agreement are being kept quiet but one of the sources described it as a good deal for Newfoundland, which has been locked in a decades-long dispute with Quebec
An agreement-in-principle has been reached between the governments of Quebec and Newfoundland and Labrador on a new contract for the massive Churchill Falls hydroelectric project that will open the way for joint investments to generate even more electricity, three sources say.
The Globe and Mail is not identifying the sources who were not authorized to discuss the deal and the negotiations that have been going on in for many months. The agreement-in-principle sets out the overall terms of development for both the upper and lower Churchill Falls that is expected to take about an year or more for Newfoundland and Hydro-Québec lawyers to finalize a definitive and legal binding deal, the source said.
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