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Emera Energy to Manage One of Canada’s Largest Combined-Cycle Generation Facilities
April 23, 2007
HALIFAX, Nova Scotia April 23, 2007, (TSX - EMA): Emera Energy Inc. (EE) will be managing one of Canada’s largest combined cycle gas-fired electricity generating facilities. The new Greenfield Energy Centre, a 1,005 MW facility located near Sarnia Ontario is expected to be in test operations this summer. EE will act as agent for the facility, managing approximately 140,000 mmbtu/day of natural gas purchases and associated power sales. Emera Energy is a wholly owned subsidiary of Emera Inc. (TSX:EMA).
“This is a significant transaction for Emera Energy, and an exciting opportunity to expand our energy management business into the Ontario market,” said Todd Sattler, Chief Operating Officer of Emera Energy. “We look forward to providing the very best service to Greenfield .”
Emera Energy will work with various gas suppliers, the Independent Electric System Operator of Ontario and local gas transportation and storage companies to assist Greenfield with the operation and optimization of the facility.
"We were looking for a company that was flexible and reliable enough that we could assign the management of our stream of revenue with confidence," said Ryo Zushiden, Vice President of Greenfield. "After a lengthy proposal process, we are confident that Emera Energy is a company that we can rely on and we look forward to receiving creative and true value-added solutions, to maximize our profit.”
Greenfield Energy Centre is an important new addition to Ontario 's energy infrastructure, and will assist in achieving the province's clear air objectives. The Greenfield Energy Centre is a limited partnership between subsidiaries of Mitsui & Co. Ltd. and Calpine Corporation.
Emera Energy is Atlantic Canada's first energy trading and marketing operation and is based in Halifax , Nova Scotia . Emera Energy manages energy commodities and provides related energy management services on behalf of customers throughout eastern Canada and the northeast United States .
About Emera Inc.
Emera Inc. (EMA-TSX) is an energy and services company with $4.0 billion in assets. Electricity is Emera's core business. The company has two wholly-owned regulated electric utility subsidiaries, Nova Scotia Power Inc. and Bangor Hydro-Electric Company, which together serve 590,000 customers. Emera's other investments include a joint venture interest in Bear Swamp, a 600 megawatt pumped storage hydro-electric facility in northern Massachusetts; a 12.9% interest in the Maritimes & Northeast Pipeline ; and Emera Energy, which manages energy assets on behalf of third parties and provides related services. Visit Emera on the web at www.emera.com .
For more information, please contact:
Judy Steele, FCA
Director, Investor and External Relations
Emera Inc.
(902) 428-6999