Hydro-Qubec wins major Massachusetts energy contract

Hydro-Qubec won the biggest energy deal in its history Thursday as authorities in Massachusetts approved its proposed Northern Pass Transmission project.

The 20-year deal will generate millions in revenue for the public utility, although the exact financial details of the project have yet to be finalized.

This is a joint project between the public utility andEversource, a New England energy provider.

The deal will help bring "clean, affordable power" to New England, saidEversourceexecutive vice presidentLee Olivier.

It will be a major boost forHydro-Qubecas theutilityworks to double its revenue by 2030.

"We are delighted and proud to have been selected," ric Martel, presidentof Hydro-Qubec, saidin a news release.

"This is a historic step that confirms the great value of our clean energy and the importance of its role in the ongoing energy transition in New England."

Prioritizingreducing carbon emissions

The project first came about in 2010 when reducingcarbon emissions became a priority in New England,Northern Pass spokespersonMartin Murray toldCBCMontreal'sHomerun.

He said the state ofMassachusetts then enacted a law requiring the utilities that provideelectricity to the citizens of that stateto "provide a certain amount of clean energy."

The Quebec portion of the power project, which is expected to be completed by 2020, is valued at nearly $620 million, but that isexpected to rise by $60 million since some of the transmission line needs to be buried.

Hydro-Qubec'sproposal was among 40 that were submitted in a call for tenders in 2016.