There is nothing better than finding high quality Canadian growth stocks that can grow steadily for years to come. And while growth stocks can be any size, the earlier you can identify these companies, the better your chances of making a profit.

For example, had you invested in Shopify, one of the best Canadian growth stocks of all time, on the day it went public in 2015, you would have achieved a total return of 5,700% by now. That’s a compound annual growth rate (CAGR) of about 95%.

If you had only bought the stock in early 2018, you would have gained 1275%. However, if you had waited to buy the Canadian stock in early 2020, you would have made 240% on your investment.

A return on investment of 240% is of course always attractive. But clearly, there is a lot more potential the earlier you find these stocks and the sooner you decide to make a long-term investment.

So with that in mind, here are two of the top Canadian growth stocks with huge upside potential that I would look to buy soon.

A leading Canadian infrastructure security for long-term investors

Some of the best companies are companies that operate in highly defensive industries. This is one of the main reasons why Brookfield Infrastructure Partners (TSX: BIP.UN) (NYSE: BIP) is one of the top Canadian stocks to consider today.

The other main reason is due to its exceptional management team, which continues to perform impressively. Brookfield has a portfolio of high quality long-term assets which are the building blocks of the economy. So not only are these companies very defensive, but the management team does an exceptional job of finding these trades at attractive valuations.

Often times, Brookfield will even invest money to improve the assets and cash flow they can generate. They can then hold onto the assets for the long term and collect all of that cash flow, or they can sell those assets at a new higher price and recycle the capital into new investments.

This is a great strategy for long-term growth, which is why Brookfield Infrastructure is one of the leading Canadian stocks there is.

A rapidly growing stock of green energy

Renewable energy is another industry to consider for long-term growth. Several green energy stocks are attractive investments. Today one of the best, however, has to be Power of the North (TSX: NPI).

Renewable energy stocks sold a bit at the start of the year as investors worried about rising valuations in the sector.

Now, however, many of these stocks are cheap. Other stocks, like tech stocks, which sold off at the start of the year have recently returned to favor, and I expect that to happen soon in renewables. So, I would be looking to buy these stocks in the short term, while they are still cheap.

And of all the green energy stocks, Northland is one of the cheapest, especially considering its incredible growth potential.

Canadian stock has one of the most promising growth plans for the years to come and has proven to grow rapidly in the past. Over the past decade, Northland shareholders have achieved a total return of over 350%.

Going forward, however, Northland is looking to capitalize on the massive shift to cleaner energy that is occurring around the world. The company plans to invest up to $ 20 billion over the next five years alone to develop and diversify its portfolio.

Shortly after announcing this impressive growth plan, it made an attractive acquisition of a 540 megawatt Spanish wind farm. This acquisition adds 25% more capacity to Northland’s operations and, going forward, there will be many more of these transactions to come.

Renewable energy is one of the best long-term growth industries there is. So if you are looking for a top Canadian stock to buy and hold for years, Northland is a top choice.

Fool contributor Daniel Da Costa owns shares of BROOKFIELD INFRA PARTNERS LP UNITS and NORTHLAND POWER INC. The Motley Fool owns stock and recommends Shopify. The Motley Fool recommends BROOKFIELD INFRA PARTNERS LP UNITS and Brookfield Infrastructure Partners and recommends the following options: $ 1,140 long calls in January 2023 on Shopify and $ 1,160 short calls in January 2023 on Shopify.