-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.
"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, 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.
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
