The project has now secured all the permits required to proceed with the construction.

The Champlain Hudson Power Express Project is a completely underground / underwater HVDC transmission line.

The 333-mile originates at the US-Canada border and runs through Lake Champlain and the Hudson River to New York City.

The transmission line is in compliance with the Section 10 of the Rivers and Harbors Act and Section 404 of the Clean Water Act.

TDI CEO Donald Jessome said: "The approval comes after an extremely thorough and detailed review, and we want to thank the management and staff of the Corps for their professional approach to processing the application.

"The terms of the permit reaffirm that our project will take appropriate steps to protect New York’s environmental and commercial resources, and we are excited to have moved substantially closer to the moment when we will begin to deliver cleaner, lower-cost power to New York’s residents and businesses."

Upon completion, the project will bring up to 1,000MW of clean, reliable energy to meet growing power demands and is expected to reduce energy costs for consumers and businesses by $650m annually.