Today, the Federal Loan Guarantee for Emera’s Maritime Link Project was
finalized. This follows the project receiving Nova Scotia Utility and
Review Board approval and Environmental Assessment release in 2013.
“We have met the conditions of the Federal Loan Guarantee which is now
fully available to support the financing for the Maritime Link Project,”
said Chris Huskilson, President and CEO of Emera Inc. “We are working to
put the financing in place as soon as possible, which we expect to
happen in the second quarter of 2014.”
Forward Looking Information
This news release contains
forward-looking information with respect to Emera. By its nature,
forward-looking information requires Emera to make assumptions and is
subject to inherent risks and uncertainties. There is significant 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. Detailed information
about these assumptions, risks and uncertainties is included in Emera’s
securities regulatory filings, which can be found on SEDAR at www.sedar.com.
About Emera
Emera Inc. is an energy and services company
with $8.88 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 90% 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., and EMA.PR.E.
Additional information can be accessed at emera.com,
or on sedar.com.
About The Maritime Link Project
The Maritime Link is a
proposed 500 MW high voltage direct current (HVdc) transmission line
between Nova Scotia and Newfoundland and Labrador. The Project will
include two 180 km subsea cables across the Cabot Strait, with almost 50
km of overland transmission in Nova Scotia and close to another 300 km
of overland transmission on the island of Newfoundland. To learn more
visit www.emeranl.com.
Copyright Business Wire 2014