TDI-NE STATEMENT ON PASSAGE OF “AN ACT TO PROMOTE ENERGY DIVERSITY” IN MASSACHUSETTS

Burlington, VT (August 1, 2016) – The State of Massachusetts legislature passed a comprehensive bi-partisan energy bill on July 31, 2106 that will result in a regional solicitation for clean energy for 9.45 TWh of hydro and onshore wind resources. It is anticipated that the vast majority of this clean power will need to be imported via new transmission lines through the northern New England States.

TDI New England views this legislation as an important driver to finance and construct the New England Clean Power Link and looks forward to responding to the solicitation in cooperation with clean energy suppliers.

In light of the bill’s passage, TDI New England CEO Donald Jessome issued the following statement:

“TDI New England is very excited about the passing of this legislation in Massachusetts. This large procurement of clean energy by the Bay State will have profound carbon reduction impacts for New England, as fossil fuel generation is replaced by wind and hydro. We believe the New England Clean Power Link transmission project will provide a very competitive proposal to deliver clean power to Massachusetts’ and ultimately unleash significant environmental and economic benefits to the Region and the host state of Vermont. TDI New England appreciates the continued support it has received from Vermont and looks forward to having the Project operational by 2020.”

About the New England Clean Power Link
The New England Clean Power Link is a proposed 154-mile underwater and underground transmission line that will deliver 1,000 MW of clean, lower-cost power to the Vermont and New England market. The line is being developed with private-sector financing by TDI New England and will originate at the U.S.-Canadian border and travel approximately 97 miles underwater down Lake Champlain to Benson, Vermont. The cable will then be buried along town and state road and railroad rights-of-way or on land owned by TDI New England for approximately 57 miles to a new converter station to be built in Ludlow, Vermont. The project is expected to be in service in 2019, at a cost of approximately $1.2 billion.

About TDI New England
TDI New England is a Blackstone Portfolio Company. New York based Blackstone is a global leader in alternative asset management with more than $330 billion currently under management. The TDI New England team is made up of the same leadership team currently developing the Champlain Hudson Power Express in New York State. That project has received all major federal and state permits required to proceed. The developers have a strong track record of working in partnership with local elected officials, community groups, and other stakeholders to develop projects that meet unique energy needs of growing economies, while minimizing local impacts. More information on the company and the project are available at www.necplink.com and follow us on Twitter @necplink.