It’s been a bumpy year for Canada. We’ve had to take a close look at our economy and rethink how we move forward with new trade rules and partners. But through the tariffs and political changes, one thing has stayed steady: Canada’s new economy keeps growing.
Whether it’s clean power, new transmission lines, big battery projects, critical mineral mines, or companies choosing to invest here, the message is the same: Canada’s clean economy is a safe, steady bet. And it’s one that will pay off with jobs and long-term stability for years to come.
Here are our top 10 new economy wins for 2025.
Clean Energy
1. Small reactors, big leadership
Ontario is leading the way on small modular reactors—with support from federal and provincial funds—building four SMRs, the first in Canada and the entire G7.
The investment is big, but the payoff is bigger. With a $20.9B price tag, the project is expected to add $38.5B to Canada’s GDP over 65 years. It will also build skills and expertise that can drive future growth. And on the ground, it means jobs: 18,000 during construction and 2,500 long-term positions once they’re running.
Together, the reactors will produce 1.2 GW of clean, reliable energy—enough to power 1.2 million homes.
2. Cheaper renewable power by the GWh
Not long after greenlighting 10 renewable energy projects from its 2024 power call, British Columbia is keeping up momentum. Those projects are set to bring in up to $6B in private investment, deliver up to $3B under First Nations ownership, and create 2,000 construction jobs, all at prices 40 per cent lower than the last round. Now, in 2025, the province has launched a new call for proposals, aiming to add yet another 5,000 GWh (likely around 1.6 GW) more clean energy to the grid.
3. Offshore wind poised to transform Eastern Canada
This year, Nova Scotia took its first step toward making the 40 GW Wind West project a reality by designating four offshore wind energy areas. The first project of its kind in Canada, the provincial government says these winds could eventually supply up to 27 per cent of the country’s electricity needs.
Even unlocking the first 5 GW could generate $45 – $75 B in new investment and economic activity across Canada. While it’s still early days (the province has only begun the prequalification process for bidding), we’ll be watching closely as the next phase is expected in early 2026.
Battery Technology
4. Record-breaking batteries reshaping Ontario’s grid
In May, Oneida Energy Storage — Canada’s largest battery energy storage project, the fifth largest in the world at the time — came online ahead of schedule and $100 million under budget in Haldimand County, ON. By storing power when demand is low and sending it back to the grid when demand spikes, Oneida will save Ontario ratepayers money and it will also deliver stable, long-term profits to its Indigenous equity partners.
And Ontario isn’t stopping there. This past November, the province broke ground on the Skyview 2 battery storage system, set to take Oneida’s place as the largest in Canada when completed, with more major announcements expected in 2026.
5. Billion-dollar battery manufacturing
This fall, Volkswagen subsidiary PowerCo started construction on its $7-billion EV battery facility in St. Thomas, ON — a plant set to begin production in 2027.
The site will be PowerCo’s third and largest EV battery gigafactory. Once up and running, it will employ about 3,000 people, and is expected to support another 30,000 indirect jobs, producing enough batteries for up to one million vehicles a year.
Critical minerals
6. Mine greenlighting to meet global electrification demand
As countries look to diversify where they source their critical minerals, Canada’s mining sector is seeing a major opening. And this year brought a wave of new projects to meet that demand.
One of the biggest moves came from Teck, which greenlit the Highland Valley Copper Mine extension, keeping the existing mine operating for nearly 20 more years beyond its planned 2028 closure. It’s a big boost for the region, creating 2,900 construction jobs and 1,500 operational jobs. With a $2.4 billion investment, the extension is expected to add $500 million to Canada’s GDP annually.
Momentum is building. Four additional mining projects have been referred to the Major Projects Office, and Budget 2025 introduced a new $2 billion Critical Minerals Sovereign Fund. All signs point to continued growth well into 2026.
Newmont’s Red Chris mine expansion project has been referred to the Major Projects Office
Transmission
7. Quebec plant tripling transformer manufacturing output
Hitachi Energy is investing $270 million to boost power transformer manufacturing at its Varennes, QC plant. This is the second major expansion in just 17 months as demand for electricity continues to surge. Together, the expansions will nearly triple output and create more than 500 jobs.
Transformers are a backbone of the modern energy system, enabling efficient transmission and distribution of power. They’re essential for large transmission systems, data centres, grid interconnections, renewable energy and electrification.
8. Northern transmission line to boost resource-sector competitiveness
In mid-November, the North Coast Transmission Line was referred to the Major Projects Office to help speed up development. The $6 billion project is expected to create nearly 10,000 jobs and could generate as much as $9.85 billion per year in economic activity by delivering clean, reliable electricity to ports, mines and other industrial customers along B.C.’s North Coast.
Efficiency
9. Cutting demand, cutting costs
Ontario launched a 12-year, $10.9 billion energy efficiency program this year to help families and business cut their energy use and lower their bills. The program is expected to save ratepayers $12.2 billion in electricity system costs and gives contractors and service providers the policy certainty they need to hire more and expand.
B.C. and a few other provinces still lead on energy efficiency, and with the end of the Canada Greener Homes Loan, there’s more do to. But programs like these are already supporting reliable jobs for electricians and HVAC contractors and saving billions in energy costs.
Investment
10. Canada ranks 8th in clean energy investments
Investment in Canada’s energy transition grew by almost 20 per cent in 2024, reaching $48 billion. As a result, Canada cracked the top 10 of countries leading in investing in clean electricity and electrification for the first time with its 8th place ranking. Most of Canada’s investment was in power grids and electrified transportation.