• Emera Incorporated
email this
  • Statement about Atlantic Link and the Massachusetts Clean Energy RFP
    Company Release - 01/25/2018 16:02

    HALIFAX, Nova Scotia--(BUSINESS WIRE)-- The following statement was issued today by Emera Inc. President and CEO Chris Huskilson, in response to decisions made by evaluators in the Massachusetts Clean Energy RFP. Atlantic Link, a proposed 1,000 megawatt subsea transmission line between Atlantic Canada and southern New England, was proposed by Emera last year in response to the RFP.

    “Emera has been advised that its proposal regarding the Atlantic Link subsea transmission project will not at this time proceed to negotiation with Massachusetts electric utilities for a long-term contract.

    “Connecting New England to new sources of affordable clean energy in Atlantic Canada, along a reliable subsea transmission connection, remains a compelling opportunity that would bring significant value to the market. The project embodies Emera’s strategy of delivering cleaner, affordable energy to customers. Atlantic Link’s proposed delivery point at Plymouth, Massachusetts, which would repurpose infrastructure that currently serves a retiring nuclear plant, is optimal.

    “Emera will continue to advance Atlantic Link, including the project’s Presidential Permit application and required approvals from relevant agencies in the United States and Canada, as we assess the outcome of the Massachusetts solicitation and future market opportunities.”

    About Atlantic Link
    Atlantic Link is a 1,000-megawatt (MW) high-voltage direct current (HVDC) subsea transmission line to deliver clean energy from Atlantic Canada to Massachusetts. The project includes a new converter station and substation to be constructed at the landing site in Plymouth, Massachusetts as well as similar facilities at the cable’s origination point at Coleson Cove, New Brunswick. Virtually the entire length of the new approximately 375-mile transmission interconnection will be installed underwater. Atlantic Link is being developed by Emera Inc. subsidiary Clean Power Northeast Development.The project web site is www.atlanticlink.com.

    Forward Looking Information
    This news release contains forward-looking information within the meaning of applicable securities laws. By its nature, forward-looking information requires Emera to make assumptions and is subject to inherent risks and uncertainties. These statements reflect Emera management’s current beliefs and are based on information currently available to Emera management. There is a risk that predictions, forecasts, conclusions and projections that constitute forward-looking information will not prove to be accurate, that Emera’s assumptions may not be correct and that actual results may differ materially from such forward-looking information. Additional detailed information about these assumptions, risks and uncertainties is included in Emera’s securities regulatory filings, including under the heading “Enterprise Risk and Risk Management” in Emera’s annual Management’s Discussion and Analysis, and under the heading “Principal Risks and Uncertainties” in the notes to Emera’s annual and interim financial statements, which can be found on SEDAR at www.sedar.com.

    About Emera Inc.
    Emera Inc. is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia with approximately $28 billion in assets and 2016 revenues of more than $4 billion. The company invests in electricity generation, transmission and distribution, gas transmission and distribution, and utility energy services with a strategic focus on transformation from high carbon to low carbon energy sources. Emera has investments throughout North America, and in four Caribbean countries. Emera continues to target achieving a minimum of 75% of its adjusted net income from rate-regulated businesses. Emera’s common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.B, EMA.PR.C, EMA.PR.E, and EMA.PR.F. Depositary receipts representing common shares of Emera are listed on the Barbados Stock Exchange under the symbol EMABDR and on The Bahamas International Securities Exchange under the symbol EMAB. Additional Information can be accessed at www.emera.com or at www.sedar.com.

    Clean Power Northeast Development
    Gerald Weseen
    Vice President, US Government Affairs
    (617) 530-1309 - o
    (857) 288-9505 - m
    Investor Inquiries:
    Emera Inc.
    Ken McOnie
    Vice President, Investor Relations & Treasurer
    (902) 428-6945 - o

    Source: Emera Inc.