The Maine Supreme Judicial Court has struck a blow to a joint venture between Boston-based First Wind and Nova Scotia-based Emera. The court has ruled against the state Public Utilities Commission's (PUC) 2012 approval of the JV and sent the matter back to the regulator for redetermination.
The two companies worked to establish the venture to jointly own and operate wind projects in the northeastern U.S., with First Wind owning 51% of the company and Emera owning the remaining 49%.
However, Emera is also the parent company of transmission and distribution (T&D) utilities Maine Public Service Co. (MPS) and Bangor Hydro, and the Supreme Court argued that a state law restricts a company from owning both T&D and generation assets.
Emera maintains that the joint venture is not prohibited by the Electric Industry Restructuring Act.
"Emera looks forward to participating in the commission's process for redetermination of this matter and remains committed to investing in Maine," says Emera CEO Chris Huskilson.
