$6.5 billion

2012 Ranking: 3

2011 Ranking: 1

Sector: Hydroelectric

Location: Havre-Saint-Pierre, Quebec

Owner: Hydro-Québec

Engineer: AECOM (detailed engineering on Romaine-1, preliminary engineering on Romaine-4, design, mechanical consultant); SNC-Lavalin (detailed engineering for the Romaine-2 development project)

Contractor: Thirau ltée, a subsidiary of CVTech Group Inc.

Supplier: Alstom (turbines: Romaine 2)

Funding: Public

• Hydro-Québec does not single out individual projects for specific funding. Generally, new projects are funded by ratepayers and the issuance of debt. Because of the relatively low interest rates the utility can access, it has primarily been using long-term bonds, maturing between 2040 and 2050. This type of financial structure works well for Hydro-Québec because the length of the bonds tends to match the service life of many of its operations.

• Bonds are placed on the Canadian bond market and are mostly syndicated through the six largest banks in Canada, as well as Laurentian Bank Securities, Desjardins Securities, Casgrain & Company, and Merrill Lynch Canada.

Description:

Hydro-Québec’s 1,550 MW hydroelectric complex on the shores of the Rivière Romaine, is still on track for completion in 2020. It was the biggest construction project in Canada until the Eglinton Crosstown LRT and Site C clean Energy Project (this year’s new number one project) overtook it.