Wind Power a Plus for Emera

Article Excerpt

EMERA INC. $22 (Toronto symbol EMA; Income Portfolio, Utilities sector; Shares outstanding: 111.4 million; Market cap: $2.5 billion; SI Rating: Average) has commissioned its new wind power farm next to its Lingan generating station, the largest power plant in Nova Scotia. The Lingan wind farm will produce 42 gigawatts of electricity per year, or enough to supply 4,000 homes. Emera’s wind projects now supply around 60 megawatts per year, or 3% of its total capacity. If you include hydro and tidal power plants, Emera now gets 15% of its power from renewable sources. Wind power is less reliable than Emera’s conventional power plants. But projects like this will help Emera comply with new environmental laws that aim to cut harmful sulphur dioxide emissions. Emera is a buy. buy…