The Royal Canadian Mounted Police (RCMP) arrested two suspects over planning the plot under the name of "operation samosa."
Security sources informed that they held the suspects when one of the suspects was about to travel abroad as part of the alleged plot.
Misbahuddin Ahmed, one of the arrested suspects, reportedly hails from India.
The security personnel said that this time the homegrown terrorist cells are plotting to target Canadian power plants and transmission lines which carry electricity to the US.
It is the second al-Qaeda-linked terror plot to be unearthed in Canada after the Toronto-18 plot of 2006 in which 18 Toronto-area Muslims were arrested for plotting to blow up Canadian targets, storm parliament, take leaders hostage and behead the prime minister.
"It is clear that Canada is not immune from international or homegrown radicalization. The government continues to participate in activities to better understand extremism throughout the world," said a Canadian spokesperson.