Global Leader in International Renewable Industry News

posted in:

Emera Inc. -

Emera Inc. approves sanction of the Maritime Link project

Tuesday, Dec 18, 2012

Emera Inc. (EMA: TSX) is pleased to announce sanction of the Maritime Link, an energy transmission project that will link the provinces of Newfoundland and Labrador and Nova Scotia for the very first time. When completed, The Maritime Link will supply affordable, reliable and renewable energy to Nova Scotians.

“Today’s announcement underscores our confidence in the benefits of this truly regional and transformative project”

The Sanction Agreement entered into today will enable Emera and Nalcor to move forward with the project on terms that are consistent with the Federal Loan Guarantee announced on November 30, 2012. The Federal Loan Guarantee provides a direct benefit to Nova Scotia electricity customers by lowering Emera’s borrowing costs for the project. This will save more than one hundred million dollars in financing costs over the 35-year period, all of which will be passed on directly to customers.

“Today’s announcement underscores our confidence in the benefits of this truly regional and transformative project,” said Chris Huskilson, President and CEO, Emera Inc. “Emera firmly believes that this project is the best and lowest cost option for Nova Scotia, and that it will be an important component in meeting the province’s clean energy needs for generations to come.”

Source: Business Wire

posted in:

Other Renewable News

SPI Solar announces amendment to agreement for Mountain Creek project 24-04-2014
Accenture to help Azure Power expand its solar generation business 24-04-2014
EPIA presents the Global Market Outlook for Photovoltaics 2014-2018 at Intersolar Europe 24-04-2014
Avianca Brasil and Byogy Renewables forge initiative to drive the global approval of Alcohol-to-Jet (ATJ) renewable jet fuel 24-04-2014
Intersolar North America strengthens focus on growing energy storage market 23-04-2014
GDF SUEZ Energy Resources NA again donates renewable energy certificates to the Houston Museum of Natural Science in Honor of Earth Day 23-04-2014
3M celebrates 10-year record of EPA ENERGY STAR sustained excellence award 23-04-2014
SolarWorld powers spread of grass-roots community solar purchasing from coast to coast 23-04-2014
Canadian Solar to supply 43MW of solar modules in Japan 23-04-2014
Nice-Pak products and PDI complete largest Rooftop solar array in Rockland County 22-04-2014