Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 

MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Emera Incorporated    EMA   CA2908761018


SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

Emera Technologies Unveils BlockEnergy Residential Product and Announces Residential Development Partnership

10/22/2020 | 12:15pm EST

Tampa, Florida--(Newsfile Corp. - October 22, 2020) - Emera Technologies LLC (ETL) today launched its new utility-owned residential energy system called BlockEnergy.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6522/66615_87b1259738dd9eff4f4c617562d9.jpg

Figure 1

To view an enhanced version of this graphic, please visit:

BlockEnergy is a modular, turnkey power system that capitalizes on battery storage, power electronics and the lowering cost of renewables. Combined, these emerging innovations form the first utility-focused business model for rate-based, distributed energy to be owned and operated as a utility asset. The result is a flexible, scalable, distributed power platform that's able to seamlessly interoperate with the grid.

Emera Technologies is a subsidiary of Emera Inc., a $32 billion energy company based in Canada, serving approximately 2.5 million utility customers in Canada, the U.S. and the Caribbean.

"Our focus at Emera is to safely deliver cleaner, reliable energy while maintaining affordability for customers," says Scott Balfour, President and CEO of Emera Inc. "Our investment in Emera Technologies and BlockEnergy is an example of our strategy in action as we position for the evolving energy landscape that's transforming the utility industry," said Balfour.

As customer demand for renewable energy increases, there is also a growing expectation for greater reliability, more choice and more control over energy use. Emera is strategically exploring emerging technologies and solutions to serve changing customer needs and to help shape the future of the industry.

"BlockEnergy is an innovative solution for utilities to drive the adoption of distributed energy resources to incorporate more renewables while optimizing system efficiency and managing affordability for customers," says Rob Bennett, CEO, Emera Technologies. "This technology is a truly independent, seamless, community-level solution, based primarily on solar energy."

BlockEnergy goes beyond the needs of one home to a greater vision by serving the needs of a community, powered by a modular, highly renewable power platform with advanced reliability.


Emera Technologies has partnered with Lennar Homes and Metro Development Group for the Medley subdivision within the Southshore Bay master-planned community in Tampa, Florida. It consists of 40 new Lennar homes, all powered by BlockEnergy. It will be the first residential deployment of the BlockEnergy platform in the U.S.

Each BlockEnergy BlockBox sits beside the home and will be custom color-matched to the main, exterior wall so it sits naturally within the residential neighborhood while delivering superior energy reliability and resilience.

"We're so excited about BlockEnergy at our Medley community in Southshore Bay. Being able to provide cleaner, reliable and affordable energy to these new homeowners is a real differentiator. More importantly, this unique energy system provides peace of mind; assurance that they will have an energy source at all times, especially when they need it the most. This will be just one of many features in this highly amenitized community, but surely one of the most exciting," said Mark Metheny, Division President for Lennar Homes.

"A year ago, we were introduced to the team at Emera Technologies who gave us an advanced look at BlockEnergy. Needless to say, it caught our attention and here we are a year later ready to launch our new project. Now, we have the first community in the nation to be deployed with BlockEnergy at Southshore Bay using an advanced community microgrid. This dovetails perfectly with the innovation of Metro Places communities. As a true, 21st century developer, we are committed to bringing some of the most innovative technologies and world-class amenities to our growing portfolio of communities," said Kartik Goyani, VP of Operations at Metro Development Group.

The utility territory for Southshore Bay belongs to the Tampa Electric Co, (TECO), which serves over 780,000 customers in the region. "Our TECO team is excited to assess the potential of BlockEnergy by installing this new community power system in the Medley community at Southshore Bay," said Nancy Tower, president and chief executive officer of Tampa Electric.


Each home in a community has four levels of energy assurance: rooftop solar, local battery storage, community generation and storage and the capability for interoperability with the grid. Paired together, BlockEnergy delivers advanced power security and maximum reliability. The technology powering BlockEnergy is able to connect to the local, utility grid without interruption. All of these connections joined together result in the most reliable power available today.

Operating as a mesh network, BlockEnergy puts new homes on resilient, renewable energy at the community level in loops of up to 50 homes at a time. As communities grow, BlockEnergy neighborhoods are simply linked together, leaving no stranded assets, now or in the future.

Designed to meet new load growth, BlockEnergy integrates with the AC system, able to seamlessly disconnect and run autonomously with very little supervisory control required by the utility. It uses an advanced control platform and algorithm to optimize the movement of energy around the system. BlockEnergy represents the first of its kind -- a front-of-the-meter energy solution able to be deployed today to meet new residential loads.


With the infrastructure already in place, utilities are best positioned to make the greatest impact on renewable proliferation and community power transformation. By choosing to deploy a system like BlockEnergy, utilities provide customers with levels of reliability that directly impact security, resilience and, best of all, affordability.

BlockEnergy is an immediate and future-ready solution, fully digitized, delivering the data utilities need to serve customers efficiently and effectively. It helps utilities decarbonize and decentralize -- aligning with the major trends in the energy sector today.


BlockEnergy will be unveiled community-wide in the new Medley at Southshore Bay community in Florida in 2021. More news to follow.


Media Contact Information:
Jennifer Degtjarewsky for Emera Technologies and BlockEnergy
Jen@MediaLabOne.com / Media Lab One, LLC
*Interview opportunities available by request.

Multimedia Assets:

Related Links:

About Emera Technologies LLC

Emera Technologies LLC, (ETL) is a subsidiary of Emera Inc., a utility with $32B in assets and operations in Canada, the U.S. and the Caribbean. Leading the way forward to deliver cleaner, affordable energy that's safe and reliable. Launched with utility, technology and renewable energy experts at the helm, ETL is developing new ways to deliver renewable energy to utility customers and capitalizing on the disruptive challenges and innovation opportunities in today's energy industry. Makers of BlockEnergy, the first utility-focused business model delivering a distributed energy solution using smart controls, able to provide renewable power to new residential communities. Emera Technologies is engaged in new community builds across North America with residential builders and local utilities utilizing BlockEnergy to provide the world's most advanced, reliable power available. Visit BlockEnergy.com and sign up to get the latest news on Emera Technologies products, projects and technical innovations.

About The BlockEnergy Smart Platform

Developed by Emera Technologies LLC, a subsidiary of Emera Inc., the BlockEnergy Smart Platform is the world's first utility-focused, front-of-the-meter, distributed renewable energy platform for new communities of all sizes. The first truly plug-and-play energy system, BlockEnergy is comprised of a simple kit of parts, able to be installed by local utilities as a capital asset to deliver the most advanced, secure, resilient power available. Scalable, stormproof and able to interoperate seamlessly with the local grid when needed, BlockEnergy puts rooftop solar, energy storage and smart distributed controls throughout new communities. These homes are joined together in a network, creating self-sustaining BlockLoops, able to independently power homes without disruption. Learn more at BlockEnergy.com and connect with Emera Technologies on LinkedIn for the latest product news and BlockEnergy developments.

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 2019 annual revenues of $6 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 Emera.com or at SEDAR.com.


Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6522/66615_415c39e49d2bc5e57140e5690aff.png

Figure 2

To view an enhanced version of this graphic, please visit:

Related Links
BlockEnergy Launch Broadcast

Related Files
BlockEnergy Liftoff System Diagram.png

Related Images

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6522/66615_198b15b519c65c6c876d132956b0.jpg

Figure 3

To view an enhanced version of this graphic, please visit:

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6522/66615_ad8c44d8320af1d302b925193ddb.jpg

Figure 4

To view an enhanced version of this graphic, please visit:

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6522/66615_dac08c350ef84ec99919b0f7b65c.jpg

Figure 5

To view an enhanced version of this graphic, please visit:

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6522/66615_ca52462984e7ceb512c18c9d8895.jpg

Figure 6

To view an enhanced version of this graphic, please visit:

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/66615

© Newsfilecorp 2020
11/10EMERA INCORPORATED : quaterly earnings release
10/30EMERA INCORPORATED : Ex-dividend day for
10/22Emera Technologies Unveils BlockEnergy Residential Product and Announces Resi..
10/15EMERA INCORPORATED : Provides Update on ESG Progress
10/14EMERA INCORPORATED : Teleconference on November 13 to Discuss Q3 2020 Results
10/05EMERA INCORPORATED : Approves Quarterly Dividends
09/25EMERA INCORPORATED : Announces the Planned Retirement of Nancy Tower in Mid-2021
09/17EMERA INCORPORATED : Approves Increase in Common Dividend
08/20EMERA INCORPORATED : Appoints Peter Gregg as President and CEO of Nova Scotia Po..
08/18EMERA INCORPORATED : Announces Results of Series A and Series B First Preferred ..
More news
Sales 2020 5 965 M 4 608 M 4 608 M
Net income 2020 810 M 625 M 625 M
Net Debt 2020 16 291 M 12 585 M 12 585 M
P/E ratio 2020 16,5x
Yield 2020 4,65%
Capitalization 13 380 M 10 342 M 10 336 M
EV / Sales 2020 4,97x
EV / Sales 2021 4,80x
Nbr of Employees 7 523
Free-Float 85,8%
Duration : Period :
Emera Incorporated Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends EMERA INCORPORATED
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 60,18 CAD
Last Close Price 53,26 CAD
Spread / Highest target 27,7%
Spread / Average Target 13,0%
Spread / Lowest Target -13,6%
EPS Revisions
Scott Carlyle Balfour President, Chief Executive Officer & Director
Mary Jacqueline Sheppard Chairman
Richard C. Janega Chief Operating Officer-Electric Utilities
Gregory W. Blunden Chief Financial Officer
Andrea Sarah Rosen Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
NEXTERA ENERGY22.75%145 579
ENEL S.P.A.17.11%101 696
IBERDROLA, S.A.23.09%83 646
ORSTED A/S54.43%72 579