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wiredInUSA - November 2013
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JCM
Capital
has
closed
development financing for an
underwater high voltage direct
current (HVDC) transmission
project with Lake Erie Power
Corp (LEPC) to connect Ontario
to Pennsylvania.
The project, known as the Lake
Erie CleanPower Connector,
would bring hydroelectric, wind,
solar, natural gas and nuclear
energy to the PJM grid, which
supplies electricity to 13 states
and the District of Columbia.
The privately funded project
is estimated to cost $1 billion.
Commissioning is targeted by
the end of 2017.
“JCM Capital is excited and
proud to be financing and
providing
co-development
services for this early stage and
high profile HVDC transmission
project,” saidMartin Ritchie, JCM
Capital’s CFO. “The new inter-tie
will allow Canada to transmit
surplus clean energy power
generated via Ontario’s Green
Energy Act to the PJM markets
where there is a demand.”
To complete the Lake Erie
CleanPower Connector, two
solid, six-inch transmission cables
will be placed beneath Lake
Erie, from Nanticoke, Ontario
to Erie County, a distance of
approximately 65 miles.
Financing closes for
1,000MW transmission
project