Hydro One has signed another equity agreement with a First Nation community regarding its Waasigan Transmission Line.
Lac des Mille Lac First Nation becomes the ninth community to put pen to paper on a deal that will give them a 50 per cent stake in the project.
Hydro One announced its new equity model last fall to gives First Nations a 50 per cent partnership in all future large-scale capital transmission line projects.
“This is an outstanding example of what industry and First Nations can accomplish when they work together. We look forward to a successful partnership on this project and continuing our respectful and mutually beneficial relationship with Hydro One into the future,” says Chief Whitecloud, Lac des Mille Lacs First Nation in a release.
“The equity agreement we signed demonstrates how we are partnering with First Nations to attract economic opportunities to the north, while ensuring that Ontario’s grid is clean, reliable and resilient,” states Andrew Spencer, Vice President, Transmission & Stations, Hydro One.
The Waasigan is to be a double-circuit 230-kilovolt line from Hydro One’s Lakehead Transmission Station in Shuniah, east of Thunder Bay to its Mackenzie station in Atikokan. A single line from Atikokan to Dryden is also planned.
