BC Energy to US Market - Juan de Fuca Cable Permit Could Clear the Congested Way
On June 12, 2008 Sea Breeze Power Corp. announced that the US Department of Energy issued a Presidential Permit (DOE Permit) for the Juan de Fuca Cable. The Cable is a proposed 550 MW High Voltage Direct Current Light® international submarine transmission cable that would connect Vancouver Island and Washington State’s Olympic Peninsula. The Cable would be an alternative to traditional high voltage overhead lines and could be used for the transmission of electricity bought and sold between BC and US markets to the south, such as California. Currently, electricity is transmitted through a single congested pathway referred to as the I-5 Corridor.
The DOE Permit is required for any proposal to construct an electric transmission line across the U.S. international border and is the US counterpart to the Canadian National Energy Board’s issuance of a Certificate of Public Convenience and Necessity. The Juan de Fuca Cable is being developed through a joint venture between Sea Breeze Power Corp., Boundless Energy NW, Inc., and United States Power Fund, LP, a private equity fund managed by Energy Investors Funds (“EIF”).
The timing of the DOE Permit coincides with the coming announcement of the results of Pacific Gas and Electric’s $14 million US study of B.C.'s vast green electricity potential - and opportunities to bring that power to the American market.