Directive from the provincial government
prioritizes the development and construction of a proposed
transmission line between Wawa and
Timmins
TIMMINS,
ON, Dec. 17, 2024 /PRNewswire/ - Today, the
Minister of Energy and Electrification directed the Ontario Energy
Board to amend Hydro One Networks Inc.'s (Hydro One) transmission
licence to develop and construct a new priority transmission line
project in northeast Ontario. The
proposed project is intended to support the rapid increase in
electricity demand expected in northern Ontario to accommodate electrification of
communities, businesses and industry, population growth and
economic development activities including advanced manufacturing
and mining for critical minerals.
"Electricity is the backbone of our economy and Hydro One
provides the power needed to support daily life and attract new
growth and investment in communities across the province," said
David Lebeter, President and Chief
Executive Officer, Hydro One. "This designation acknowledges how
Hydro One has prioritized Indigenous partnerships and
reconciliation. We thank the government for their support and will
continue to work in collaboration with partners to develop and
build this critical line."
Hydro One was selected as the transmitter responsible for the
development of the line after extensive evaluation of its proposal
and consultations with Indigenous communities, stakeholders and the
public. Hydro One will continue to work with all proximate First
Nations who have the opportunity to invest in a 50 per cent equity
stake in the transmission line component of the project through
Hydro One's 50-50 equity partnership model.
"As we move forward with the designation of Hydro One and
partners to build the transmission line between Wawa and Timmins, it's not just about infrastructure –
it's about strengthening our communities, connecting people, and
ensuring a sustainable, reliable future for the north," said Chief
Gauthier, Missanabie Cree First Nation. "This project will power
progress and create lasting opportunities for all our people."
"On behalf of the Chiefs of the Wabun Tribal Council we are so
pleased with Ontario's decision to
award the transmission line project between Wawa and Timmins to our partnership with Hydro One,"
said the Wabun Chiefs and Wabun Tribal Council. "This project not
only provides value to our communities as owners of infrastructure
but increases the transmission capacity in the grid system that is
desperately needed. We look forward to working with the ministry
and other stakeholders as we plan and build the line over the
coming years."
The Wabun Chiefs and Wabun Tribal Council are: Chief
Cheryl St. Denis, Brunswick House
First Nation, Chief Anita Stephens,
Chapleau Ojibway First Nation, Chief Murray
Ray, Flying Post First Nation, Chief Alex Batisse, Matachewan First Nation, Chief
Jennifer Constant, Mattagami First
Nation and Jason Batise, Executive
Director, Wabun Tribal Council.
The proposed project is a new, 260-kilometre, 500-kilovolt (kV)
transmission line, initially energized at 230 kV between Wawa
Transformer Station (TS) in Wawa,
and Porcupine TS in Timmins. It is
expected to be in service by the end of 2030.
The designation of this priority project supports the
Independent Electricity System Operator's projection that demand
for electricity will increase approximately 75 per cent across
Ontario by 2050. Once built, the
proposed priority transmission line will enhance Ontario's clean energy advantage and continue
to position the province as an attractive place to live and
invest.
Quotes
"Our government is supporting the incredible growth in
Timmins and across Northeastern Ontario by accelerating the
development of a new transmission line that will power new homes,
businesses and mines," said Stephen
Lecce, Minister of Energy and Electrification. "Our focus on
ensuring access to reliable and affordable energy is key to
ensuring business across the north remain competitive, especially
as demand for Ontario's
responsibly sourced metals and critical minerals grows."
"Advancing the new transmission line is a critical step in
powering the future of Timmins and
the mining sector in Northeastern
Ontario," said George Pirie,
Minister of Mines and Member of Provincial Parliament for
Timmins. "As Timmins continues to thrive as a key hub for
mining and economic activity, ensuring greater access to clean and
reliable energy is vital to meet the region's increasing energy
needs that will power the mines of tomorrow, which benefits all of
Ontario."
"By partnering with First Nations communities on critical energy
infrastructure projects like the Wawa to Porcupine transmission line, we are not only
strengthening Ontario's economy
for now and future generations, but also advancing meaningful
reconciliation with Indigenous communities," said Greg Rickford, Minister of Northern Development
and Minister of Indigenous Affairs and First Nations Economic
Reconciliation. "Today's announcement marks a step toward
sustainable growth that benefits every community, ensuring we are
Building Ontario the right way – together."
"The new transmission line that Hydro One will develop in
partnership with First Nations will support our continued efforts
to encourage people, businesses and industry to choose Timmins," said Michelle Boileau, Mayor of Timmins. "This critical infrastructure will
not only support large-scale development, but help meet the
increased energy demands on our municipal systems as both the
workforce and population grow. The transmission line is a key asset
that will help unlock the economic potential in our city and
provide reliable and sustainable power for current and future
residents."
Hydro One Limited (TSX: H)
Hydro One Limited, through its wholly owned subsidiaries, is
Ontario's largest electricity
transmission and distribution provider with approximately 1.5
million valued customers, approximately $32.8 billion in assets as of December 31, 2023, and annual revenues in 2023 of
approximately $7.8 billion.
Our team of approximately 9,700 skilled and dedicated employees
proudly build and maintain a safe and reliable electricity system
which is essential to supporting strong and successful communities.
In 2023, Hydro One invested approximately $2.5 billion in its transmission and distribution
networks and supported the economy through buying approximately
$2.5 billion of goods and
services.
We are committed to the communities where we live and work
through community investment, sustainability and diversity
initiatives.
Hydro One Limited's common shares are listed on the TSX and
certain of Hydro One Inc.'s medium term notes are listed on the
NYSE. Additional information can be accessed
at www.hydroone.com, www.sedarplus.com or www.sec.gov.
Forward-looking statements and information:
This press release may contain "forward-looking information"
within the meaning of applicable Canadian securities laws and
"forward-looking statements" within the meaning of applicable U.S.
securities laws (collectively, "forward-looking information").
Statements containing forward-looking information are made pursuant
to the "safe harbour" provisions of applicable Canadian and U.S.
securities laws. Words such as "expect", "anticipate", "intend",
"attempt", "may", "plan", "will", "can", "believe", "seek",
"estimate", and variations of such words and similar expressions
are intended to identify such forward-looking information. These
statements are not guarantees of future performance or actions and
involve assumptions and risks and uncertainties that are difficult
to predict. Therefore, actual outcomes and results may differ
materially from what is expressed, implied or forecasted in such
forward-looking information. Some of the factors that could cause
actual results or outcomes to differ materially from the results
expressed, implied or forecasted by such forward-looking
information, including some of the assumptions used in making such
statements, are discussed more fully in Hydro One's filings with
the securities regulatory authorities in Canada, which are available on SEDAR+ at
www.sedarplus.com. Hydro One does not intend, and it disclaims any
obligation, to update any forward-looking information, except as
required by law.
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SOURCE Hydro One Limited