Broadway, Time Square or the Empire State Building, New York has no shortage of light and Hydro-Quebec is tackling this huge market by submitting an offer Wednesday morning to provide green electricity in the Big Apple, learned The newspaper.
The financial details of the contract that Hydro-Quebec would receive are not known, but it could be its biggest export blow. The state-owned company would provide up to 10.4 terawatt-hours (TWh) over 25 years, which is about one-fifth of the consumption of the largest American city.
By comparison, Hydro-Quebec has already confirmed that it will supply 9.45 TWh to Massachusetts in a 20-year contract valued at $ 10 billion.
The New York authorities will have to make their choice during the third quarter of this year. This is when we will know if Hydro-Quebec has succeeded in charming the American authorities with their offer.
Advanced project in the United States
If the state-owned company gets its hands on the contract, the commissioning will take place in 2025. “The project is ahead in the United States, which means that construction could begin immediately,” said Lynn Saint-Laurent. , spokesperson for Hydro-Québec, in an interview with The newspaper.
In the United States, Hydro and its American partner Transmission Developers would build a line 545 kilometers long. It would be underground and underwater, while certain portions would even pass under Lake Champlain and the Hudson River. In the end, Hydro could supply 1.2 million customers.
In Quebec, Hydro intends to build a 60-kilometer underground line from Hertel substation in La Prairie to the American border to connect the Quebec network with New York State. Public consultations will begin shortly over the next few weeks.
Reducing GHGs in New York State
According to Hydro, the proposed project will reduce the greenhouse gas (GHG) balance of our imposing neighbor, which still relies heavily on fossil energy to produce its electricity.
“It would greatly reduce GHGs, especially in the south of the state, where 85 to 90% of New York City’s electricity supplies will come from fossil sources after the closure of a nuclear power plant,” estimated Gary Sutherland, Trade Commissioner.
Hydro-Québec emphasizes that this energy contribution will reduce GHG emissions by approximately 3.9 million metric tons annually, which is equivalent to 44% of cars on the streets of New York.
The crown corporation says it is ready for such a contract. Last October, Hydro-Québec had surpluses which were evaluated at 32 TWh.
New York’s interest in Hydro
It should be remembered that on several occasions, Mayor Bill de Blasio and the Governor of New York State, Andrew Cuomo, had expressed their interest in Hydro-Québec. The latter wishing to accelerate “the development of infrastructure necessary for the transmission of electricity” from Quebec.
According to Hydro-Quebec, the infrastructure should create more than 1,400 construction jobs in New York State and generate economic spinoffs estimated at around $ 50 billion in total for the State between 2021 and 2050.
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