Emera has received final approval from the Nova Scotia Utility and Review Board for its NSP Maritime Link compliance filing.
In July 2013, the project received approval from the board with conditions including an assurance that additional market-priced energy be made available to Nova Scotians.
The approval of the compliance filing the company filed in October 2013, which addresses the market-priced energy condition through an energy access agreement between Emera, Nalcor and NS Power, represents the lowest long-term cost option for Nova Scotia Power customers.
The subsequent steps include finalising the federal loan guarantee and providing a routine update to the board on the project by 15 December 2013.
Emera president and CEO Chris Huskilson said the $1.5bn investment in the project will provide benefits to Nova Scotia customers that significantly exceed the value of the investment over the life of the project.
NSP Maritime Link, a wholly owned subsidiary of Emera Newfoundland & Labrador Holdings and an affiliate of Nova Scotia Power, has proposed to design, develop and operate a new 500MW, +/-200 to 250kV high voltage direct current (HVDC) transmission system between the Island of Newfoundland and Cape Breton, Nova Scotia.
The Maritime Link transmission project calls for the construction of subsea cables; shore grounding facilities; two converter stations and adjoining substations; transmission corridors (HVDC transmission, HVAC transmission, grounding system transmission lines); two transition compounds; and necessary other potential infrastructure.
The project will include three main components with the first comprising a new transmission line between Cape Ray and Bottom Brook in Newfoundland along an existing transmission corridor, and Bottom Brook to Granite Canal in a combination of existing and new corridors.
The second component will involve construction of two subsea cables spanning approximately 180km across Cabot Strait from Point Aconi, Nova Scotia to Cape Ray, Newfoundland, while the last one is a new 50km-length line in Nova Scotia parallel to the existing transmission corridor centerline between Point Aconi and Woodbine.
The Maritime Link project will help address the increasing demand for more renewable energy under a comprehensive, long-term and sustainable electrical power management strategy.