On January 25th, Massachusetts Clean Energy announced that the Northern Pass Transmission project, proposed by Hydro-Quebec and Eversource, was the winner of the call for tender for the transportation of green energies to Massachusetts, confirming the defeat of the Atlantic Link project proposed by Emera Inc. (TSX: EMA). However, the project will not be abandonned, the company having indicated its intentions to go ahead with it.
Indeed, Chris Huskilson, CEO of Emera Inc., and Gerald Weseen, Vice President of US Government, argued that the $ 2B CAN project has a lot of merit. They will take the time to analyze the American walk and observe the results of the Massachusetts Clean Power Request For Proposal (RFP) in order to identify future opportunities. The Atlantic Link, a 563 km subsea power line, would be the longest line of its kind in the Americas if it came to fruition, surpassing the 170 km Maritime Link project worth $ 1.7 billion. December by Emera.
The company is banking on the fact that US demand for green energy is likely to increase in the coming years. In addition, it believes that the Atlantic Link will provide greater reliability than current projects, since the line will be buried under the seabed. This argument caused some controversy last summer, when, for the RFP, Emera emphasized that his project would be more reliable than the one proposed by Hydro-Québec.
Emera. (2018). Maritime Link. Retrieved from: http://www.emeranl.com/en/home/themaritimelink/overview.aspx
Atlantic Link. (2018). About the Atlantic Link. Retrieved from: https://www.atlanticlink.com/the-project/
CBC. (2018). Emera’s $2B Atlantic Link loses bid for Massachusetts clean energy deal. Retrieved from : http://www.cbc.ca/news/canada/nova-scotia/emera-atlantic-link-massachusetts-energy-northern-pass-transmission-1.4504425
Emera. (2018). Statement About Atlantic Link and the Massachusetts Clean Energy RFP. Retrieved from : http://investors.emera.com/Mobile/file.aspx?IID=4072693&FID=391897847