Hydro One and Lac des Mille Lacs First Nation sign agreement for transmission line project
by CM Staff
Waasigan is a new transmission line that will bring additional power to the region supporting economic growth by bolstering capacity in northwest Ontario.
Chief Whitecloud, Andrew Spencer, Hydro One, Ogichidaa (Grand Chief) Francis Kavanaugh and Matthew Jackson, Hydro One celebrate the signing of the agreement in Thunder Bay. (CNW Group/Hydro One Limited)
THUNDER BAY — At a ceremony in Thunder Bay, Lac des Mille Lacs First Nation and Hydro One Networks Inc. (Hydro One) signed an equity agreement on the Waasigan Transmission Line project. Lac des Mille Lacs First Nation is one of nine potential partner communities that could own up to 50 per cent of the Waasigan Transmission Line in partnership with Hydro One.
“Lac des Mille Lacs First Nation is very pleased to announce that we have formally signed this agreement with Hydro One. We acknowledge the many hours of negotiations and hard work that went into this initiative and thank everyone involved. 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 to continuing our respectful and mutually beneficial relationship with Hydro One into the future,” said Chief Whitecloud, Lac des Mille Lacs First Nation.”
Earlier this fall, Hydro One announced its new equity model that will offer First Nations a 50 per cent equity stake in all future large scale capital transmission line projects with a value of more than $100 million, transforming the benefits of infrastructure development for First Nation communities.
Waasigan is a new transmission line that will bring additional power to the region supporting economic growth by bolstering capacity in northwest Ontario by adding 350 megawatts of capacity to the region.
