HALIFAX, Nova Scotia--(BUSINESS WIRE)--
Emera Inc. (TSX: EMA) is pleased to announce that on October 9, 2014,
the Maine Public Utilities Commission (MPUC) issued its written decision
reinstating its approval of Emera’s investment in Northeast Wind
Partners and its investment in Algonquin Power & Utilities Corporation
(TSX: AQN).
Emera has invested more than $1 billion dollars in the State of Maine.
The MPUC’s decision provides confirmation of Emera’s ability to pursue
future investments in Maine.
“We appreciate the clarity provided by the Commission and respect its
decision, and the accompanying conditions,” said Chris Huskilson,
President and CEO, Emera Inc. “The MPUC’s approval allows us to continue
to invest in existing and developing clean energy projects in Maine.”
Emera has invested a total of $225 million in Northeast Wind Partners.
The partnership, which is a joint venture with First Wind, includes 419
MW of operating wind projects. The partnership was originally approved
in 2012, but subsequently appealed. The Maine Supreme Court asked the
MPUC to reapply the law in accordance with a test established by the
Court. Yesterday’s written decision confirms the approval.
The decision also reconfirms approval for Emera to own 25% of AQN common
shares. AQN is an owner and operator of clean energy generation assets
across North America.
Forward Looking Information:
This news release contains
forward looking information. Actual future results may differ
materially. Additional information related to Emera, including the
company's Annual Information Form, can be found on SEDAR at www.sedar.com
or on EDGAR at www.sec.gov.
About Emera:
Emera Inc. is geographically diverse energy and
services company headquartered in Halifax, Nova Scotia with $9.07
billion in assets and 2013 revenues of $2.2 billion. The company invests
in electricity generation, transmission and distribution, as well as gas
transmission and utility energy services. Emera's strategy is focused on
the transformation of the electricity industry to cleaner generation and
the delivery of that clean energy to market. Emera has investments
throughout northeastern North America, and in four Caribbean countries.
Approximately 80% of the company's reported net income in 2013 came from
regulated investments. Emera common and preferred shares are listed on
the Toronto Stock Exchange and trade respectively under the symbol EMA,
EMA.PR.A, EMA.PR.C, EMA.PR.E, and EMA.PR.F. Additional Information can
be accessed at www.emera.com
or at www.sedar.com.
Emera
Investor Relations:
Scott LaFleur, 902-428-6375
Acting
Investor Relations Manager
Scott.lafleur@emera.com
or
Media
Relations:
Dina Bartolacci Seely, 902-428-6059
Corporate
Communications
dina.bartolacci@emera.com
Source: Emera Inc.