The government expects implementation of the Plan Nord over the next 25 years to generate more than $80 billion in public and private investments, $47 billion of which will be used to develop renewable energy sources and $33 billion to develop the mining sector and public infrastructure (roads, airports, etc.).
As for green and renewable energy, the Plan Nord provides for the development of 3,500 megawatts of renewable energy, including 3,000 megawatts of hydroelectricity, 300 megawatts of wind power and 200 megawatts from other renewable energy sources. In particular, Hydro-Québec will support projects not linked to its main network in order to respond specifically to the energy needs of industrial projects, including mining projects. All told, these developments would represent $25 billion in additional investments.
In the mining sector, the government's priority actions include carrying out a mineral potential assessment to stimulate and support mining exploration.
To oversee implementation of the Plan Nord, the Government of Quebec will establish a public coordinating body, the Société du Plan Nord. This body's initial action plan will extend from 2011 to 2016 and will provide for investments totalling $1.6 billion, of which $1.2 billion will go to infrastructure development and $382 million to social measures.
The Government of Quebec will also provide provincially owned Investissement Québec with $500 million over the next five years for investments in businesses participating in the Plan Nord. Investissement Québec will negotiate equity participations on a business basis in the form of joint ventures or purchases of share capital or investments in the form of convertible debentures.