Island Falls is a hydroelectric power station operated by SaskPower, a Saskatchewan crown corporation. It is located on the Churchill River, about 97 kilometres (60 mi) northwest of Flin Flon, Manitoba, Canada.
Island Falls was the first hydroelectric power plant in Saskatchewan. It was built between 1928 and 1930 by the Churchill River Power Company, a subsidiary of Hudson Bay Mining and Smelting, to provide electricity for the HBM&S mining operations at Flin Flon and Cold Lake, Manitoba.
The drainage basin above the power site covers much of northwest Saskatchewan, about 210,000 square kilometres (80,000 sq mi). The drainage basin contains several large lakes providing natural reservoirs, the main one being Reindeer Lake at 6,000 square kilometres (2,300 sq mi).
As part of the consolidation of generation sources in the province, SaskPower purchased the plant from HBM&S in 1981, which continued to operate it for several years. Since 1985 the plant is entirely owned and operated by SaskPower.