Newfoundland and Labrador mainly relies on hydropower for its generation needs, supplemented by the 500-MW Holyrood Thermal Generating Station, near St. John's. The province's main power station, the 5,428-MW Churchill Falls Generating Station, was commissioned between 1971 and 1974. The generating station is owned by the Churchill Falls Labrador Corporation Limited, a joint venture between Newfoundland and Labrador Hydro (65.8%) and Hydro-Québec (34.2%). Most of the output of the plant is sold at a fixed price to the Quebec utility under a 65-year power purchase agreement due to expire in 2041.