CONCORD, N.H. (AP) — The company behind a plan to bring hydropower from Canada to southern New England is abandoning the project after suffering a defeat in the New Hampshire Supreme Court.

In a filing Thursday to the Security and Exchange Commission, Eversource concluded Northern Pass was “no longer probable” after the court last week affirmed a state committee’s decision to reject the proposal. The company had spent $318 million on it and will write off $200 million after taxes.

The company, which wanted to build a 192-mile (310-kilometer) transmission line across New Hampshire, argued that the $1.6 billion project would bring clean energy to the region and help the economy. It was undone by opponents, who accused the company of ignoring their concerns that the project would damage state’s tourism economy and destroy rural communities.

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