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Emera says Quebec is part of Nova Scotia’s power solution

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CBC is reporting that Emera CEO Chris Huskilson has said that the Muskrat Falls deal with our province doesn’t mean the Nova Scotia-based energy company isn’t interested in power from Quebec. Huskilson says that moving ahead with the Lower Churchill wasn’t a rejection of Quebec, rather that the deal “was the simplest arrangement we could do that could get done and could make a huge difference to the Nova Scotia circumstance.” Muskrat Falls will help Nova Scotia achieve its target of getting 40 per cent of its energy from renewable sources by 2020 and is expected to supply that province with about eight to 10 per cent of its total energy needs. “Quebec will be part of the solution … I think in the long-term,” Huskilson said. “But we have to do all the things necessary to make that possible.” He was referring to the amount of work required to…

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Federal government officially commits to Muskrat Falls

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A recap of the news conference this morning, including photos and the MOU document

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Muskrat Falls loan guarantee announced today

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What is being called a “major” announcement will be made this morning involving all the major players in the Muskrat Falls hydro development – Federal ministers, provincial ministers from Nova Scotia, and representatives from both Nalcor and Emera. The announcement is being billed as a “clean energy for Atlantic Canada” initiative, and is taking place at 9:00 this morning at Atlantic Place. The historic announcement means a much cheaper development for all involved parties; a loan guarantee on the proposed $6.2 billion project essentially lets the provincial government borrow money using the Federal government’s credit rating to reduce the interest paid on said loans. The loan guarantee would provide significant savings throughout the course of the project’s development. Stay tuned to TheIndependent.ca for pictures of the new conference. Source: VOCM

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