The Lake Erie CleanPower Connector project, with an estimated cost of $1bn, will connect Ontario to Pennsylvania. It will provide hydroelectric, wind, solar, natural gas and nuclear energy to the PJM Interconnection grid, which supplies electricity to 13 states and the district of Columbia.
In addition, the project will generate 600 direct construction jobs and over 1,200 indirect jobs during a three-year construction period.
JCM Capital CFO Martin Ritchie said that the company is excited and proud to be financing and providing co-development services for this early stage and HVDC transmission project between Canada and the US.
"The new inter-tie will allow Canada to transmit surplus clean energy power generated via Ontario’s Green Energy Act to the PJM markets where there is a demand." Ritchie added.
The project is expected to be commissioned in 2017.
