Brascan Power and Bangor Hydro Open New Transmission Line in Maine.Energy Editors/Business Editors MILLINOCKET, Maine--(BUSINESS WIRE)--May 21, 2003 Brascan Power Corporation and Bangor Hydro-Electric Company today announced that a joint project to build a new transmission line system, interconnected with the New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. power grid, is now complete and operational. The new line stretches 25 miles and includes two new substations, with a 126-megawatt ("MW") capacity. The total project cost was US$17 million. "This is an important project for the Katahdin area. The expanded transmission capability has fueled the economy in the area and provided several jobs during the life of the project. It also provides a more flexible and reliable source of energy for the region's industrial base and will enable us to attract new businesses," commented Ray Robinson Noun 1. Ray Robinson - United States prizefighter who won the world middleweight championship five times and the world welterweight championship once (1921-1989) Sugar Ray Robinson, Walker Smith, Robinson , Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Bangor Hydro. The construction of this transmission line follows the acquisition by Brascan Power in January 2002, of 6 hydroelectric generating facilities in Maine from Great Northern Paper Company including a 20 MW interconnection to Bangor Hydro and some rights-of-way required to increase the interconnection capacity to over 126 MW. Brascan, together with Bangor Hydro, subsequently expanded the existing transmission line to 126 MW in a joint project, completed 15 months from the planning stage, which is half the time normally required for a project of this size and scope. "Brascan's business strategy is to own and operate high quality assets in key North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. markets. This project with Bangor Hydro enhances the company's generating facilities in Maine and strengthens the reliability of the regional power supply by accommodating 126 MW of power flow to and from the New England power grid," concluded Richard Legault, President and Chief Operating Officer of Brascan Power. Brascan Corporation is a North American based real estate, power generation and asset management company. With US$15 billion of invested capital, current operations include 55 premier properties and 39 power generating facilities. Brascan is listed on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol BNN BNN Boston Neighborhood Network BNN Boundary Network Node (IBM) BNN Back-Propagation Neural Network BNN Biological Neural Network BNN Bart's Neverending Network (public-service TV network in The Netherlands) .A and the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol BNN. Bangor Hydro-Electric Company is a regulated electric transmission and distribution utility wholly-owned by Emera Inc. BHE BHE Ball Handling Error (volleyball) BHE Bund der Heimatvertriebenen und Entrechteten (Union of Homeless and Rightless) BHE Blenheim New Zealand BHE Byte High Enable BHE Benchmark Electrs Inc serves a population of 192,000 in an area encompassing 5,275 square miles in eastern and east coastal Maine. BHE is a member of the New England Power Pool and is interconnected with other New England utilities to the south and with the New Brunswick Power Corp. to the north. Visit us at www.bhe.com. About Emera Inc.: Emera Inc. (EMA-TSX) is a diversified energy and services company, with 550,000 customers and $4.0 billion in assets. The company has two wholly-owned regulated electric utility subsidiaries, Nova Scotia Power Inc. and Bangor Hydro-Electric Company. Nova Scotia Power supplies over 95% of the electric generation, transmission and distribution in Nova Scotia. In addition, Emera Energy manages Emera's growing gas infrastructure investment portfolio, including its 12.5% interest in the Maritimes & Northeast Pipeline, which delivers Sable sable, species of marten, Martes zibellina, found in Siberia, N European Russia, and N Finland. This carnivorous mammal is highly valued for its thick, soft fur, which is dark brown or black, sometimes with white underparts and sometimes flecked with silver. natural gas to markets in Maritime Canada and the northeastern United States; and an 8.4% interest in the Sable Offshore Energy Project
The Sable Offshore Energy Project (SOEP) is a consortium based in the Halifax Regional Municipality which is attempting to locate and produce natural gas found near Sable Island on the edge offshore platforms and sub-sea field gathering lines. Emera Energy also incorporates Emera Energy Services, Emera Fuels, and Emera's business development activities. Visit Emera on the web at www.Emera.com. |
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