January 25, 2018 / 9:20 PM / a year ago

BUZZ-Eversource jolts on winning bid for New England hydropower project

** Shares of Eversource Energy rise 5.6 pct on Thurs in biggest daily pct increase since Nov 2008, after utility co wins bid to deliver hydropower to New England grid

** Eversource to partner with Hydro-Québec to build transmission line, the Northern Pass, starting at Canadian border and running through New Hampshire to connect to New England power grid

** Bids solicited under Massachusetts clean energy program, the result of a 2016 state law to boost renewable energy sources

** Work on Northern Pass to begin in mid-2018 upon receipt of permits, expected to begin operation in 2020; line will provide up to 9.4 terawatt hours/yr of hydropower

** With today’s gains, ES up 2.2 pct so far in 2018, outperforming S&P Utilities index, down 3.1 pct YTD

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below