March 7, 2014
The Canadian Government 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.
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.
For more information:
1894 Barrington St
Halifax, Nova Scotia
CANADA, B3J 2A8
Contact person: Jill Hennigar
Contact person: Dina Bartolacci Seely