Blackstone Power Cable From Quebec to New York Approved

Blackstone Group LP, the world’s largest private-equity firm, won approval from state regulators for a $2.2 billion power line that would bring electricity to New York City from Quebec.

The New York Public Service Commission unanimously approved the 333-mile (531-kilometer) Champlain Hudson Power Express at a meeting in Albany today. The line, which would stretch from the Canadian border to Astoria, Queens, would be able to deliver 1,000 megawatts of electricity, about 10 percent of the city’s needs. The project would send mostly hydropower from Quebec, the commission said.