The $962m contract calls for the construction of two dams, a power house, intake and gated spillway for the project, which received approval from the Newfoundland and Labrador Government in December 2012.
Located on the Lower Churchill River, around 30km west of Happy Valley-Goose Bay, the $7.4bn project is likely to start construction before the end of 2013 and commission by 2017.
Backed by a Canadian government loan of up to $6.3bn, Muskrat Falls, which will be the second-largest hydroelectric facility in the province, is part of the 3,000MW Lower Churchill project that also includes the 2,250MW Gull Island hydroelectric plant.
Earlier in August 2012, Nalcor Energy and Emera had signed agreements to build the project and associated transmission lines.
Under the agreements, Nalcor and Emera will use 40% and 20% of the total output respectively, while most of the remaining non-committed 40% is likely to be used for export, mainly to New England.
