News

Presidential Permit application for Emera’s Atlantic Link subsea transmission project

The application has been deemed complete and the project’s submission notice was published today in the U.S. Federal Register.

BOSTON, MA (December 4, 2017) – Clean Power Northeast Development, a subsidiary of Emera Inc., has applied to the U.S. Department of Energy for a Presidential Permit, requesting authorization to build the Atlantic Link subsea electric transmission project. The application has been deemed complete and the project’s submission notice was published today in the U.S. Federal Register.

Atlantic Link is a proposed 1,000-megawatt (MW) high-voltage direct current (HVDC) transmission interconnection of approximately 375 miles to deliver wind and hydro power from Atlantic Canada directly to Massachusetts. The subsea cable would run from Coleson Cove, New Brunswick to Plymouth, Massachusetts, making landfall near the retiring Pilgrim nuclear station. Atlantic Link’s proposed in-service date is late 2022. A Presidential Permit is required to authorize the construction, connection, operation and maintenance of a transmission line between the United States and Canada.

Atlantic Link has been proposed in response to the Massachusetts Clean Energy RFP, a competitive solicitation for clean energy delivery to the Commonwealth of Massachusetts. Responses to the RFP were submitted in late July.

Atlantic Link’s application for a Presidential Permit initiates a formal review of the project by U.S. federal government agencies. The review process will examine environmental impacts of the project, as well as its impact on electric reliability.

“The request for a Presidential Permit is a significant milestone for Atlantic Link to ensure we continue to stay on track with our project schedule,” said Dan Muldoon, Emera’s Executive Vice-President for Major Renewables and Alternative Energy. “Atlantic Link is a reliable, cost-effective solution to help Massachusetts meet its energy diversity and greenhouse gas emissions reduction goals. This transmission line’s direct connection to Massachusetts will ensure benefits such as energy, taxes, construction activity and low income programs all stay with Massachusetts residents and electricity customers.”

Last month, the Atlantic Link project received a certificate from Massachusetts Energy and Environmental Affairs regarding the scope of required environmental assessment under the state’s Environmental Policy Act (MEPA).

The Atlantic Link is proposing to deliver 5.69 terawatt hours (TWh) of clean energy annually, directly to southeastern Massachusetts, for a delivered price that remains fixed for 20 years. Approximately 70 per cent of the energy would be from seven proposed wind farms to be built in New Brunswick and Nova Scotia, with the remaining 30 per cent coming from two hydro suppliers in Atlantic Canada, Nalcor Energy and NB Power.

Energy supply for Atlantic Link resulted from a competitive Open Solicitation process initiated by Clean Power Northeast Development in January 2017. The process was overseen by an independent administrator. Commercial arrangements are in place between Clean Power Northeast and the selected wind and hydro suppliers.

Atlantic Link is 100% owned by Clean Power Northeast Development. NB Power holds an option to participate in the Atlantic Link project as a minority investor.

About Atlantic Link

Atlantic Link is a 1,000-megawatt (MW) high-voltage direct current (HVDC) subsea transmission project 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-long transmission interconnection would 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 “Business Risks 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. Additional Information can be accessed at www.emera.com or at www.sedar.com.

For more information, please contact:

Clean Power Northeast Development
Gerald Weseen
Vice President, US Government Affairs
(617) 530-1309  - o
(857) 288-9505 - m
gerald.weseen@emera.com

Investor Inquiries:

Emera Inc.
Ken McOnie
Vice President, Investor Relations & Treasurer
(902) 428-6945
Kenneth.McOnie@Emera.com