“We have made important progress with regard to this ground-breaking 20-year agreement, moving us closer towards decarbonization in the Northeast,” said Éric Martel, President and Chief Executive Officer of Hydro-Québec. “In the coming months we’ll be working closely with Central Maine Power to complete this important new interconnection project which will not only reduce carbon emissions, but will also bring price stability and supply reliability to the region.”
“The conclusion of these negotiations marks a significant step forward for the NECEC and the people of Maine, who will realize lasting economic benefits from this initiative, including new job creation and targeted investments such as expanded broadband access in Western Maine,” added Douglas Herling, President and Chief Executive Officer of Central Maine Power.
The contracts with the Massachusetts EDCs provide for the delivery of approximately 9.45 TWh annually of baseload power, for twenty years. The energy will be supplied by Hydro-Québec’s hydropower generating fleet, which means less reliance on fossil fuels during extreme winter weather conditions.
