OREANDA-NEWS. The developer of a \$2.2bn transmission line that would import 1,000MW of hydroelectric power from Canada into New York City has moved a step closer to starting construction after receiving the final environmental permit.

Blackstone Group-backed TDI USA Holdings wants to install the 333-mile (536km) Champlain Hudson Power Express transmission line underwater, burying it on the floor of lake Champlain and the Hudson river.

The company yesterday said the US Army Corps of Engineers had issued a final Clean Water Act permit allowing the transmission line to travel along the proposed route. TDI said the permit required it to install the cable at burial depths that were "fully compatible" with its project plans.

The permit comes about eight months after the US Department of Energy issued the so-called presidential permit, allowing the line to cross the US-Canada border. The developer now has all the state and federal permits needed to start construction. Receiving the permit put the company "substantially closer" to being able to deliver power into New York, TDI chief executive Donald Jessome said.

TDI hopes to start construction on the project late this year or early next year, but it has yet to secure financing or finalize its contractor. The company estimates the project would reduce New York energy costs by \$650mn/yr.