Clean, renewable energy: Montréal well positioned globally
Google, one of the world’s most recognizable multinational corporations, recently announced plans to purchase land for a new data centre in Beauharnois in the Greater Montréal area. Access to clean energy—a strong competitive advantage for Québec in North America—was certainly a key factor in the company’s decision.
Businesses are making efforts to reduce their environmental impact by improving energy efficiency and minimizing their carbon footprint. Strategically located, Québec is home to a network of high-profile cleantech companies, positioning itself as a destination of choice for global companies.
To support foreign investors in search of new locations, Montréal International, Greater Montréal’s economic promotion agency, draws on a team of experts who are qualified to provide guidance and support. “Companies investing in any of Greater Montréal’s 82 municipalities will find an environment that fosters technological innovation and the acquisition of new expertise to help lower our carbon footprint,” said Stéphane Paquet, President and CEO of Montréal International. “We also have everything we need to develop the next generation of electric vehicles and energy storage systems using the cleanest energy in North America.”
In addition to electricity, Québec’s energy mix also includes new sources of renewable energy such as biofuels, green hydrogen and renewable natural gas.
Renewable, clean and reliable energy
Businesses connecting to the grid operated by Hydro-Québec, one of the world’s leading producers of hydropower, have access to energy that is over 99% renewable. Wind power, which naturally complements hydropower, is the second most important source of electricity in Québec and holds great potential given the vast geography of the province. What’s more, Montréal boasts the lowest and most stable electricity rates in North America.
Montréal: Resilience during the pandemic
Despite an uncertain global economic environment, the city still ranks among the Canadian and U.S. metro areas with the highest job recovery rates since the start of the pandemic. According to the Conference Board of Canada’s December 2020 forecast, Montréal should lead major Canadian cities in economic growth in 2021.
Greater Montréal dominates the scene in many high-growth industries, including IT, AI, aerospace, life sciences and health technology, fintech and cybersecurity.
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