Additional funding for electric cable project provides affordable, cleaner energy in PEI

An additional $18.9 million in federal funding for the Northumberland Strait Submarine Transmission System project was announced October 21st. This brings the Government of Canada’s total contribution to the project up to a maximum of $68.9 million, representing 50 per cent of the total eligible project cost. The Honourable H. Wade MacLauchlan, Premier of Prince Edward Island, joined Minister MacAulay for the announcement. The provincial portion of the project cost is $73.6 million.

“Providing reliable, affordable and increasingly renewable energy is essential to fostering economic growth and securing prosperity for our province. The new electricity connection will secure our province’s energy future, support business growth and protect Islanders against the risk associated with the existing aging cables,” said MacLauchlan.

Spanning 17 kilometres from Cape Tormentine, New Brunswick, to Borden, Prince Edward Island, the submarine transmission system supplies approximately 75 per cent of the Island’s electricity. Installing the two new 180 Megawatts power cables will promote economic prosperity by providing uninterrupted service for Islanders and cost-efficient energy for business owners and all Islanders. It will also contribute to ongoing efforts to reduce the use of fossil fuels by building a cleaner electricity supply that contributes to sustainable economic development.

The Government of Canada’s support for this project builds on the commitment made in July 2016 to develop an Atlantic Growth Strategy that includes provisions for key infrastructure projects to support long-term growth and help the region capitalize on emerging opportunities.