Friday, April 15, 2011

New Generation Arrives for Grand Bahama

FREEPORT, Grand Bahama - The Grand Bahama Power Company announced today the on island arrival of what will total 54 rental units of generation. The units that were sourced from Aggreko, a global leader in generator rental, will represent an additional 35 MW of supplemental generation. When coupled with the 10MW units, added last year June, this will amount to 45 MW of supplemental generation for the island.

Company executives explained that this new generation will improve reliability for their customers. The overall efficiency and better heat rate performance of the rental units, as compared to the combustion turbines, will mean a stabilization of fuel costs that tend to be more volatile with the usage of the less efficient units. “The high level of efficiency also spells good news for customers of the Grand Bahama Power Company”, said Whitney Heastie, Vice President of Generation, “not only will they help provide reliable power service but will level out fuel costs.”

According to Ray Robinson, Executive Chairman of the Grand Bahama Power Company, the supplemental generation represents a short-term solution in Emera’s commitment to increase the overall level of reliability experienced by the customers of Grand Bahama Power. “We realize that the level of reliability that the residents of this island have been experiencing is nowhere near the standard that it should be. For those reasons, I am very pleased to put in place an interim solution that will not only provide an immediate solution for a significant reduction in customer interruptions, but will provide some economic and employment opportunities for Bahamians in operating and maintaining the additional units.”

While the rental generators will help with this summer’s demands, plans are already underway to build a new generation station on Grand Bahama for 2012. Since acquiring majority ownership of GBPC last December, Emera has been committed to improving reliability for GBPC customers and will announce information about the plant shortly.


Cautionary Statement Regarding Forward-Looking Information:

This release contains forward-looking information and should not be read as a guarantee of future events, performance or results, and will not necessarily be an accurate indication of whether, or the times at which, such events, performance or results will be achieved. Emera disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required under applicable securities laws.


About GBPC:


Grand Bahama Power Company Ltd. is a totally integrated utility company serving the island's 50,000 residents and commercial establishments from east to west. The company employs over 180 Bahamians and has one of the lowest electricity rates in the Caribbean. For more information about Grand Bahama Power Company please visit: www.gb-power.com


About Emera:


Emera Inc. (EMA-TSX) is a growing energy and services company with $6.3 billion in assets and revenues of $1.6 billion. The company invests in electricity generation, transmission and distribution as well as gas transmission and utility energy services. Emera’s strategy is focused on the transformation of the electricity industry to cleaner generation and the delivery of that clean energy to market. Emera operates throughout northeastern North America, in three Caribbean countries and in California. More than 80% of the company’s earnings come from regulated investments.. Emera shares are listed on the Toronto Stock Exchange and trade under the symbol EMA. Additional information can be accessed at www.emera.com or www.sedar.com.

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