Nalcor boss brings Muskrat pitch to Corner Brook10/17/2012
The head of Nalcor Energy has told a business audience in Corner Brook that the Muskrat Falls megaproject may be based in Labrador, but will offer considerable opportunities in western Newfoundland too.
"The future is just fantastic," Ed Martin, Nalcor's president and chief executive officer, told a luncheon Tuesday at the Corner Brook Board of Trade.
Martin underscored Nalcor's view that Muskrat Falls represents a low-cost option to meet increased energy demand in the future, and can provide energy security for the province.
"Once you get the transmission issues knocked off, because you're sitting next to some of the biggest markets in the world, everything is looked after," Martin said.
"[There is] a huge export potential and together if we get this right for the grand children, the numbers are just exciting."
Nalcor, the Newfoundland and Labrador government and Halifax-based Emera Inc. are the proponents of Muskrat Falls, which has yet to be sanctioned. Final estimates of the costs have not yet been released, and a federal loan guarantee is pending.
Numerous opportunities cited
With a billion-dollar transmission line in the cards, Martin said there will be plenty of spinoffs along the west coast.
"I think primarily there is going to be significant transmission construction and also clearing rights of ways," Martin told CBC News.
"[There is] a huge amount of opportunity to coming out of this for business and workers in this particular area."
Martin said it will take about five years to build the transmission network.
Martin also said local companies will be able to compete for contracts in Labrador as well, where a generating station is set to be built on the Churchill River.