$3.8B Canada-NYC Transmission Line Proposed for Renewable Power
Apr 30, 2010 - SustainableBusiness.com News
Transmission Developers Inc. (TDI) announced plans to develop a $3.8 billion power transmission line to bring renewable power to New York and New England from the U.S.-Canadian border.
Private equity firm Blackstone Group (NYSE: BX) is TDI’s lead financial partner.
The transmission power line, called the Champlain-Hudson Power Express (CHPE), will be a High Voltage direct current (HVdc) cable designed to principally run under waterways to minimize the impact to local communities and the environment.
CHPE will be subject to extensive federal and state permitting requirements. The final route will be reviewed by the New York State Public Service Commission and Connecticut regulators.
Once all the necessary approvals are granted, TDI would install a 355 mile HVdc cable from Canada to the New York metro area. The cable route would follow major waterways, including the Hudson River and Lake Champlain, and an additional 65 mile underwater connection to Bridgeport, Connecticut. While the line will be principally placed underwater, it will be installed alongside existing rail right of ways in certain areas to avoid areas of Hudson River PCB dredging.
The CHPE project will deliver up to 2,000 megawatts (MW) of hydroelectric and wind power now being targeted for development in Canada to help meet growing energy demands in the New York and New England markets.
The CHPE Project has an active application pending in phase II of the United States Department of Energy’s Loan Guarantee Program for transmission projects. This federal program supports necessary transmission projects and helps spur private sector investment in such projects.
TDI is working with Nalcor Energy to assess the feasibility of delivering hydroelectric and wind power to key markets using this transmission line.
Ed Martin, President and CEO of Nalcor Energy, said the line could carry some power from Nalcor's 3,000 MW Lower Churchill hydroelectric project in Labrador, as well as future wind power projects.Detailed information about the project is available at the link below.