Ontario selects Hydro One to invest in priority transmission line in partnership with First Nations

Core Viewpoint - The Ontario government has designated Hydro One to develop a new priority transmission line between Bowmanville and the Greater Toronto Area (GTA) to meet growing energy demand and support economic growth in the region [1][2][3]. Group 1: Project Details - The new project involves constructing a double-circuit 500-kilovolt (kV) transmission line from the Bowmanville Switching Station to one of three potential transformer stations, with expected service in the early 2030s [1]. - Hydro One will collaborate with nearby First Nations, allowing them to invest in a 50% equity stake in the transmission line component through a partnership model [2]. - The project is part of a broader initiative to expand Ontario's transmission system, which is critical for ensuring a reliable electricity supply as demand is projected to grow significantly over the next 25 years [3]. Group 2: Economic Impact - The new transmission line is expected to create thousands of jobs across Ontario and secure the province's energy supply for decades, delivering reliable electricity from small modular reactors (SMRs) [4]. - The project will support key industrial sectors, including agriculture and manufacturing, and is aimed at strengthening Ontario's economy amid global instability [3]. Group 3: Company Overview - Hydro One Limited is Ontario's largest electricity transmission and distribution provider, serving 1.5 million customers and holding $36.7 billion in assets as of December 31, 2024, with annual revenues of $8.5 billion in 2024 [5]. - In 2024, Hydro One invested $3.1 billion in its transmission and distribution networks and supported the economy by purchasing $2.9 billion in goods and services [7].