THUNDER BAY - A powerline project that will connect 17 remote First Nation communities in Northern Ontario has reached an important milestone.
Wataynikaneyap Power announced on Tuesday that it has achieved financial close and named the company that will be responsible for the construction of the 1,800 kilometres of transmission lines.
“Indigenous Peoples are very patient and resilient – they have been talking about energy for 28 years,” said Margaret Keneqanash, CEO of Wataynikaneyap Power. “Today we place our mark on history as we work towards a shared vision which will form the foundation for our future generations. We celebrate the moment of truth today but tomorrow our commitment to the tasks before us becomes very real as the work begins in our effort to connect our First Nation communities on time.”
With financial close, meaning the project’s financing for the total cost of $1.9 billion are in place, construction can move forward with a targeted completion date of the end of 2023. The provincial government also provided a $1.34 billion loan for construction costs.
Valard LP was named as the contractor for the project and will handle the design, procurement of materials and equipment, and construction of the transmission line.
“Valard has successfully and safely engineered and constructed some of the largest electric transmission projects in Canada,” said Barkley Adams, Valard’s president and CEO. “We want to thank Wataynikaneyap Power for selecting our company to safely executive on this project, and we look forward to working with the communities and beginning work immediately.”
Pikangikum First Nation was the first community to be connected to the power grid in 2018 and the project is meant to eliminate the reliance on financially unsustainable and environmentally risky diesel generation.
It is estimated the project will create 769 jobs during construction and close to $900 million in socio-economic value.
Wataynikaneyap Power is owned by 24 First Nations in partnership with Fortis and other private investors.
“I would like to recognize the hard work of the Project Team on achieving financial close so we can issue the Notice to Proceed for the construction of the line that brings light,” said Eliezar Mckay, chair of First Nations LP. “This significant milestone is only possible through cooperation and with the patience and support of our people as part of the bigger vision of building and owning a transmission line – we share in the excitement of this historic occasion.”
Nishnawbe Aski Nation Grand Chief, Alvin Fiddler, applauded the recent milestone for the project.
“Another milestone has been reached and we congratulate Wataynikaneyap Power and everyone involved for their dedication and determination to make this project a reality,” Fiddler said. “The Wataynikaneyap Power Transmission Project will bring reliable supplies of electricity to many of our remote First Nations and we look forward to its completion. Connecting our remote First Nations to the provincial energy grid will finally end their reliance on expensive and environmentally harmful diesel generation. This will improve the health of our members, and help bring jobs and other economic benefits to our communities.”
