Lake Erie Power Corp

Lake Erie Power Corp
Lake Erie CleanPower Connector

Lake Erie CleanPower Connector

September 12, 2013 11:00 ET

Lake Erie CleanPower Connector to Deliver Energy from Ontario Into Pennsylvania

Project to provide clean energy, create jobs for Erie region, strengthen PJM grid

ERIE, PENNSYLVANIA--(Marketwired - Sept. 12, 2013) - Lake Erie Power Corp (LEPC) today announced the Company's underwater high-voltage direct current (HVDC) transmission project that will connect Ontario to Pennsylvania to help meet the growing demand for electricity in the region and the PJM grid.

The project known as the Lake Erie CleanPower Connector, would bring hydroelectric, wind, solar, natural gas and nuclear energy to the PJM grid, which supplies electricity to 13 states and the District of Columbia. The privately funded project is estimated to cost $1 billion and will generate significant employment opportunities, including 300 direct construction jobs and more than 1,200 indirect jobs during a three-year construction period. Commissioning is targeted by the end of 2017 and will not require any investment from Erie or state taxpayers. Local residential and commercial customers are expected to experience a slight decrease in their energy rates.

"This new inter-tie between Canada and the United States will serve to connect the surplus clean electricity generation in the north to the growing demand in the United States," said John Douglas, CEO of Lake Erie Power Corp. "The privately financed project will significantly improve grid stability and reliability in northern Pennsylvania."

To complete the Lake Erie CleanPower Connector, two solid, six-inch transmission cables will be placed beneath Lake Erie, from Nanticoke, Ontario to Erie County, a distance of approximately 65 miles. Low-impact water jet technology is used to place the cable in a temporary trench barely wider than the six-inch cable itself, and is immediately filled. The technology isn't new. There are a dozen similar projects installed in North America and over two hundred worldwide.

The project requires approval by 2015. To achieve this, LEPC is holding a series of meetings with local, state and federal agencies, as well as environmental groups and local residents to discuss the project and alleviate any concerns.

Erie County Executive Barry Grossman said, "The principals at Lake Erie Power are proven developers with a track record for successfully conducting meaningful and responsible community outreach. We welcome Lake Erie Power to our region and believe that their low environmental impact project will generate much needed benefits to the area. Jobs and improving energy reliability and stability are vital ingredients to supporting sustainable community and regional growth. Not only will the project be entirely financed through private investment, it will provide new tax revenues the county can use to help support the services we provide to our residents."

John Elliot, president and CEO of the Economic Development Corporation of Erie County, said, "Diversifying our energy portfolio is something many regions talk about but never truly realize. The Lake Erie CleanPower Connector provides us the opportunity to do just that. This advantage will help in our ongoing efforts to attract new businesses to Erie County."

Power Advisory LLC, a North American consulting firm specializing in electricity market analysis and strategy, has welcomed the project in Canada. "This project is a good fit for both regions," said Jason Chee-Aloy, Managing Director. "Ontario has produced surplus clean energy over the past five years, and PJM has a need. The Lake Erie CleanPower Connector will benefit both markets."

More about Lake Erie Power Corp.

Lake Erie Power Corp (LEPC) is an independent energy transmission developer serving the North American market. LEPC's Values and Principles are at the core of everything we do.

LEPC's focus is on increasing the supply of clean and renewable energy in North America using safe and reliable HVDC technology. LEPC is committed to responsible development that respects local communities and minimizes environmental impact.

LEPC is currently developing a new energy transmission project, the Lake Erie CleanPower Connector, to move clean energy between Ontario, Canada and Pennsylvania where it will be connected to the PJM network (Regional Transmission Organization comprised of thirteen states including Pennsylvania and the District of Columbia). Using safe and reliable HVDC technology, the transmission line will be placed beneath Lake Erie. The line will have minimal environmental impact during and after installation and have low visual impact due to underwater cable route.

This new energy transmission project will be financed by the private sector, and will provide energy security, reduce energy costs for the consumer, create hundreds of jobs, and add millions of dollars to the local economy.

Additional information on Lake Erie Power Corp and Lake Erie CleanPower Connector can be found at each of the company's respective websites at www.lakeeriepower.com and www.cleanpowerconnector.com.