JCM finances 1-GW Lake Erie transmission line

Sep 24, 2013 - Canadian green energy financing firm JCM Capital said Monday it is providing development financing for Lake Erie Power Corp's (LEPC) 1-GW underwater transmission project which will help it add more renewables to the grid.

Apart from taking care of the financial side, JCM is also providing co-development support to the project.

The high-voltage direct current (HVDC) transmission line, known as the Lake Erie CleanPower Connector project, will link Canada's Ontario province to the US state of Pennsylvania and will carry power from wind, solar, hydro, nuclear and natural gas-fired power plants. It will be constructed in an effort to meet the increasing demand for electricity in the area.

The project, the value of which is estimated at USD 1 billion (USD 741m), will open 600 direct construction jobs. Construction works will last three years, with the facility planned to be put on stream by end-2017, JCM Capital said.

(USD 1.0 = EUR 0.741)

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