Sabia has been tapped to succeed Sophie Brochu, who left as head of the electrical utility in April. The appointment could be made official as soon as Wednesday after formal approval from Quebec’s cabinet, the people said, speaking on condition they not be named because the matter is still private.
Hydro-Quebec is an important producer and exporter of hydroelectric power, pumping $6 billion into provincial government coffers last year. But it has major challenges ahead. After spending years working to convince US states to buy its abundant clean energy, the government-owned firm faces the prospect of future power shortfalls as the province lures more manufacturers. One of the projects Hydro-Quebec has committed to is the Champlain Hudson Power Express, Blackstone Inc.
Sabia was CEO of the Caisse de Depot et Placement du Quebec, Canada’s second-largest public pension manager, from 2009 to 2020, leading the institution into an investment of more than $7 billion in a light rail system in Montreal, the Reseau Express Metropolitain. Prior to his time at the Caisse, he was CEO of BCE Inc., the country’s largest telecommunications company.