HALIFAX, Nova Scotia--(BUSINESS WIRE)--Emera Inc. (TSX:EMA) today announced that the transaction to sell its three natural gas-fired electricity generating facilities in New England to Revere Power, LLC, an affiliate of The Carlyle Group, for $590 million USD ($792 million CAD) has successfully closed.

“The closing of this transaction completes an important element of the asset sale component of Emera’s three-year funding plan, which we introduced last November,” said Scott Balfour, President and CEO of Emera. “This transaction, as well as anticipated proceeds from the sale of Emera Maine, fully achieves the targeted asset sale portion of the funding plan and will increase Emera’s financing flexibility and position the company for continued growth.”

The sale of Bridgeport Energy, Tiverton Power and Rumford Power was announced in November 2018.

Proceeds from the sale will be used to support Emera’s capital investment opportunities within its regulated utility businesses and retire Emera corporate level debt.

About Emera Inc.

Emera Inc. is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia, with approximately $32 billion in assets and 2018 revenues of more than $6.5 billion. The company primarily invests in regulated electricity generation and electricity and gas transmission and distribution with a strategic focus on transformation from high carbon to low carbon energy sources. Emera has investments throughout North America, and in four Caribbean countries. Emera’s common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.B, EMA.PR.C, EMA.PR.E, EMA.PR.F and EMA.PR.H. Depositary receipts representing common shares of Emera are listed on the Barbados Stock Exchange under the symbol EMABDR and on The Bahamas International Securities Exchange under the symbol EMAB. Additional Information can be accessed at www.emera.com or at www.sedar.com.