Emera CEO Chris Huskilson said the Maritime Link project, which is part of the overall Muskrat Falls development, is also on schedule and the power will start flowing to Nova Scotia by the next three years.
Construction work has started on the project, which will feature a 170km subsea cable that connects Cape Breton with southwestern Newfoundland.
After completion, the project will provide enough renewable energy for homes and businesses across Newfoundland and Labrador.
Electricity generated from the 824MW hydroelectric facility at Muskrat Falls will help meet energy demands in the province.
The project was sanctioned by the Government of Newfoundland and Labrador in December 2012.
Under the plans, about 40% of the electricity generated at Muskrat Falls will be used to meet the island’s electricity needs.
Emera will purchase 20% of the power from Muskrat Falls for use in Nova Scotia.
The remaining 40% of the power may be exported into Atlantic Canadian and New England markets or retained for own use when needed.
Nalcor Energy said the province is projected to need 80% of Muskrat Falls’ power by 2036, or earlier as additional industrial growth occurs.
Image: Aerial view of the Muskrat Falls construction site, fall 2013. Photo: Courtesy of Nalcor Energy.
