-Sophie Brochu, Nicolas Leblanc, of the Crown Corporation, Mes Paul Kraske of Skadden, Arps, Slate, Meagher & Flom, Me Joseph Dornfried, of Carmody Torrance Sandak & Hennessey, Me Michael Didriksen, of Baker Botts and Nike Opadiran of Skadden , Arps, Slate, Meagher & Flom. Source: LinkedIn, Facebook, artofchoice.co, chambers.com
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The State of New York recently awarded a 25-year contract to Hydro-Quebec, described by Premier François Legault as “an agreement in principle of $ 20 billion over 25 years”. This is the Crown Corporation’s largest export contract.
“The State of New York is taking a bold step towards decarbonization,” said the President and CEO of Hydro-Québec, Sophie Brochu. By moving forward with the project (Editor’s note: Champlain Hudson Power Express), it will begin to reduce its GHG emissions from 2025 and put in place the necessary infrastructure to support the production of renewable energy on its territory, while by ensuring that local communities reap direct benefits. “
From 2025, 1,250 megawatts of electricity will gradually replace fossil fuels, which represent more than 85% of the region’s electricity supply. This contribution is equivalent to the electricity consumption of approximately one million households.
As part of this transaction, Hydro-Québec was represented by Mes Helene Cossette and Nicolas leblanc, of the Crown Corporation, Mes Nike Opadiran and Paul Kraske, de Skadden, Arps, Slate, Meagher & Flom, et Me Joseph Dornfried, de Carmody Torrance Sandak & Hennessey.
The firm Transmission Developers Inc, which administers the CHPE project, was represented by Me Michael Didriksen, de Baker Botts.
It should be noted that Hydro-Québec has not disclosed the potential revenue that it would obtain from this contract.
The CHPE project involves the construction of an underground and sub-river transmission line approximately 545 km long between the Canada-US border and New York City.
It is estimated that this project, which has obtained all the required authorizations from the American authorities, will create 1,400 jobs during the construction phase in the United States. TDI is committed to bringing in unionized workers.
The Mohawk Council of Kahnawàke and Hydro-Quebec will be co-owners of the transmission line that will be built in Quebec and connected to the CHPE line.
“We look forward to working with our partners Hydro-Québec and Transmission Developers to ensure that this project will lead to the creation of well-paying jobs for New Yorkers as well as investments in some of the least well-served communities. while accelerating our path to a carbon-free future, ”said President Doreen M. Harris, President of the New York State Energy Research and Development Authority.
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