-Line anticipated to be in-service by end of 2029
to meet need identified by Independent Electricity System
Operator-
SUDBURY,
ON, March 5, 2024 /CNW/ - Today, Hydro One
Networks Inc. (Hydro One) announced it is starting the next phase
of engagement with Indigenous communities, elected officials,
property owners, businesses, residents and other interest groups on
the Northeast Power Line project, formally known as the
Hanmer to Mississagi
Line. Hydro One and proximate Indigenous communities continue
to collaborate on the early planning of the project and together
will advance the development and construction phases. To better
understand the region and gather input from the community, Hydro
One is hosting two in-person community open houses on March 19 and 20 in Elliot Lake and Hanmer. Later this spring, Hydro One plans to
host additional community open houses in Wharncliffe.
"Incorporating local feedback and knowledge is integral to this
project as we plan and design the future transmission line," said
Sonny Karunakaran, Vice President,
Strategic Projects & Partnerships. "There is incredible
potential for growth and development in northeastern Ontario and this new transmission line will
help unlock the region's prosperity."
Once built, the new 500 kilovolt transmission line will span
approximately 200 km, between Hanmer Transformer Station
(Greater Sudbury) and Mississagi
Transformer Station (near Wharncliffe), reinforcing the
transmission system in northeastern Ontario while supporting the growing
electricity demands of communities, industries and businesses. As
part of the company's pathway towards Reconciliation, Hydro One
will offer proximate First Nations a 50 per cent equity stake in
the transmission line component of the project and is committed to
working to advance the project together in partnership.
Community Open Houses:
- Tuesday, March 19, 2024 from
1 p.m. to 3 p.m. and 5 p.m. to 8 p.m. at Royal Canadian Legion Branch
561, 10 Veterans Way, Elliot Lake,
ON
- Wednesday, March 20, 2024 from
1 p.m. to 3 p.m. and 5 p.m. to 8 p.m. at Centennial Community Centre,
4333 Centennial Drive, Hanmer,
ON
For more information about the project, please
visit HydroOne.com/NortheastPowerline.
QUOTES
"Atikameksheng Anishnawbek is extremely proud to work with our
Sister Nations along the North Shore corridor on the two
transmission lines that will cross our traditional territories,"
said Gimaa Craig Nootchtai, Atikameksheng Anishnawbek. "We are also
committed to working with Hydro One as our partner in this
endeavour and thank the organization for creating a strong
relationship with us."
"Our government is working to get shovels in the ground for
critical electricity infrastructure, including new transmission, to
ensure communities and industries across the North can continue to
grow," said Todd Smith, Ontario's Minister of Energy. "I'm pleased to
see Hydro One launching the next phase of community engagement as
this project continues to progress."
"As our province continues to attract investments and foster
growth across key industries, it is important that local
communities are supported with reliable electricity
infrastructure," said Vic Fedeli,
Minister of Economic Development, Job Creation and Trade. "Once
complete, this new transmission line will serve as a catalyst for
job creation, innovation, and economic success – not only in
northeastern Ontario, but across
the entire province."
"This transmission line represents more than just an improvement
in our power infrastructure—it's setting us up for the future,"
said Paul Lefebvre, Mayor of
Greater Sudbury. "By bringing
additional power to the region, this project becomes a catalyst for
job creation, fostering economic vitality and prosperity throughout
our community. I'm excited knowing that this line will empower our
region with the resources and opportunities needed for sustained
growth."
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 at 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 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.
SOURCE Hydro One Limited