TORONTO, March 5, 2021 – Hydro One announced today that it has selected Forbes Bros Ltd. and Valard Construction LP as the successful participants in the early contractor involvement (ECI) process, for the development of the proposed Waasigan Transmission Line project. An ECI model enables two qualified engineering, procurement and construction (EPC) contractors to be engaged in the early stages of project development, allowing for additional planning, collaboration and innovation on a project.
“At Hydro One, we’re committed to energizing life for people in the communities where we work and live,” said Daniel Levitan, Vice President, Stakeholder Relations, Hydro One. “The proposed Waasigan Transmission Line project is a critical investment in the transmission system, and through the ECI procurement model, Forbes Bros Ltd. and Valard Construction LP will ensure we’re delivering value for northwestern Ontario.”
“We are committed to being the contractor that our customers, stakeholders, partners, subcontractors, and employees have confidence in and want to work with and for,” said John Cowden, Vice President Operations, Forbes Bros Ltd. “We focus on developing long-term mutually beneficial relationships with these parties we are working alongside, and we collaborate with to ensure the success of all projects we undertake. Success on this project is defined by providing the best in value project to Hydro One and all the stakeholders through early involvement and open communication. We are privileged by the opportunity and are excited for the invite to participate in this project.”
“Building transmission lines is not just about energy security, it’s about bringing together communities, Indigenous Peoples and local business to explore where environmental excellence, opportunity and utility infrastructure innovation align,” said Barkely Adams, President & CEO, Valard Construction LP. “We are excited to partner alongside Hydro One to leverage our 40 years of electric transmission development and construction experience from within northwestern Ontario and across the country for the Waasigan Transmission Line project.”
Hydro One completed a comprehensive market evaluation to identify and engage the most experienced EPC contractors in the electrical transmission industry. This evaluation focused on ensuring the selected contractors are experienced leaders in Indigenous inclusion, procurement and employment, and demonstrate the highest health, safety and environmental qualifications. Following the completion of the ECI process, Hydro One will select one contractor for project construction.
Northwestern Ontario plays a major role in the success of Canada’s mining and forestry industries, and the proposed Waasigan Transmission Line between Thunder Bay, Atikokan and Dryden will bring additional power to the region. This increase in capacity will support and attract mining and forestry activities, supply chains, industry and businesses, providing stability and enabling growth in the region for years to come.
Hydro One has submitted the Terms of Reference (ToR) to Ontario’s Ministry of Environment, Conservation and Parks for review. Once approved, the ToR will set the framework for how the environmental assessment (EA) will proceed, including the process to select a preferred project route, the studies to be completed, planned engagement activities, and how the requirements of the Environmental Assessment Act will be met.
To access the ToR, or to learn more about the Waasigan Transmission Line project, please visit: www.HydroOne.com/Waasigan.
- 30 -
Hydro One Limited (TSX: H)
Hydro One Limited, through its wholly-owned subsidiaries, is Ontario's largest electricity transmission and distribution provider with approximately 1.4 million valued customers, approximately $30.3 billion in assets as at December 31, 2020, and annual revenues in 2020 of approximately $7.3 billion.
Our team of approximately 8,700 skilled and dedicated employees proudly build and maintain a safe and reliable electricity system which is essential to supporting strong and successful communities. In 2020, Hydro One invested approximately $1.9 billion in its transmission and distribution networks and supported the economy through buying approximately $1.7 billion of goods and services.
We are committed to the communities where we live and work through community investment, sustainability and diversity initiatives. We are designated as a Sustainable Electricity Company by the Canadian Electricity Association.
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.sedar.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.sedar.com. Hydro One does not intend, and it disclaims any obligation, to update any forward-looking information, except as required by law.
