HALIFAX, Nova Scotia--(BUSINESS WIRE)--
For the first time, electricity has been exchanged between the Island of
Newfoundland and Nova Scotia through Emera’s Maritime Link Project. This
is a historic milestone for the transformative interconnection and
brings the Link within weeks of entering commercial operation when it
will significantly improve the way energy is transmitted in Atlantic
Canada.
The first electrons across the Maritime Link system were exchanged
between the provinces at 11:03 a.m. AST on Dec 8, 2017. Commissioning
Teams from Emera NL and ABB worked together with Newfoundland and
Labrador Hydro and Nova Scotia Power to achieve the first successful
trial of the Maritime Link.
“Our team has been working closely with the system operators in Nova
Scotia and Newfoundland and Labrador, as well as contractors ABB and
Nexans for several years to integrate this new interconnection,” said
Rick Janega, CEO of Emera Newfoundland & Labrador. “This is a historic
accomplishment and the culmination of almost seven years of work from a
dedicated team of employees, workers and contractors that have spent
countless hours bringing the project to life.”
Commissioning will continue throughout December as the Maritime Link
prepares to be ready for customers in early 2018. This integration of
the link would not be possible without the collaboration of system
operators in all Atlantic Canadian provinces. Once in service, it
improves the electrical interconnections between Atlantic Canadian
provinces, providing more access and improved reliability and connecting
the Island of Newfoundland to the North American energy grid for the
first time.
“The exchange of energy across the Maritime Link marks the beginning of
a pivotal time in our provincial electricity system and brings us a step
closer to a more reliable, interconnected system for our customers who
are counting on us every day,” said Jim Haynes, President of
Newfoundland and Labrador Hydro.
The Maritime Link Project is part of a broader strategy to address the
growing demand for more renewable energy. It will enable the
transmission of clean, renewable and reliable electricity from
Newfoundland and Labrador to Nova Scotia.
“This is a great day for Nova Scotia,” said Karen Hutt, President and
CEO of Nova Scotia Power. “When it goes into operation in January, the
Maritime Link will benefit Nova Scotia Power customers by creating a
more stable and secure system, helping reduce carbon emissions, and
enabling NSP to purchase power from new sources. With the Maritime Link
available, it will deliver clean hydroelectricity that will help us
achieve 40% renewable generation for our customers by 2020.”
Based on the regional cooperation among the provinces and the regional
significance of the Maritime Link, the Government of Canada backed the
Project with a Federal Loan Guarantee. This will save Nova Scotia
electricity customers approximately $325 million over the life of the
Project.
The Project was sanctioned in 2013 after a rigorous regulatory review
and environmental assessment. A comprehensive industrial benefits plan
was required and labour agreements were negotiated with the IBEW in both
provinces and the Cape Breton Building Trades Council.
Throughout the project, Emera has performed on its commitment to engage
the Nova Scotia Mi’kmaq and Qalipu Mi’kmaq in Newfoundland. As part of
this commitment, socio-economic agreements were signed with both groups
in 2015.
Construction of the Maritime Link began in 2014 and achieved major
milestones this year with the successful installation of two submarine
cables and overland transmission infrastructure. The Project remains on
budget and on schedule for first operation in early 2018.
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.
About The Maritime Link Project
The Maritime Link is a 500 MW high voltage direct current (HVdc)
transmission interconnection. The Project includes two 170 km subsea
cables across the Cabot Strait, with almost 50 km of overland
transmission in Nova Scotia and more than 300 km of overland
transmission on the island of Newfoundland.
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.
Additional Information can be accessed at www.emera.com or
at www.sedar.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171208005579/en/
Media Contact:
Emera
Jeff Myrick, 709-722-3254
Jeff.myrick@emera.com
Source: Emera