Hydro One to Acquire Brookfield Infrastructure’s Great Lakes Power Electricity Transmission Business

Brookfield Infrastructure

Feb 04 2016

Hydro One Inc. has entered into a purchase agreement to acquire from Brookfield Infrastructure 15 transmission stations, 560 kilometres of high and medium voltage 44-230 kV transmission lines, and related infrastructure covering an area of 12,000 square kilometres. The business connects to Hydro One’s Wawa and Mississagi transmission stations. Upon completion of the transaction, Hydro One will operate approximately 98% of Ontario’s transmission capacity.

The business, Great Lakes Power Transmission LP, operates along the eastern shore of Lake Superior, north and east of Sault Ste. Marie. It connects to Hydro One’s Wawa and Mississagi transmission stations.

The purchase is being made for $222 million in cash, subject to customary adjustments, plus the assumption of approximately $151 million in outstanding indebtedness. The Great Lakes Transmission business has a rate base of approximately $219 million.

The transaction is conditional upon the satisfaction of customary closing conditions, including receipt of Competition Act (Canada) approval and approval of the Ontario Energy Board.

 

 

Related Articles

ECABC Supports BC’s Commitment to Build New Clean Energy Projects in 2023

ECABC Supports BC’s Commitment to Build New Clean Energy Projects in 2023

June 19, 2023 The Electrical Contractors Association of British Columbia commends the provincial government and BC Hydro for taking action to ensure the province has the renewable electricity required to meet our future needs by announcing plans for a call for power in spring 2024, and providing $140 million in funding to the BC Indigenous Clean…

Latest Articles

Changing Scene

  • Leviton Canada Announces Structural Changes to the Sales Organization

    Leviton Canada Announces Structural Changes to the Sales Organization

    January 16, 2025 Leviton Canada is pleased to announce structural changes to its Canadian Sales Department, effective January 1, 2025. These changes aim to enhance sales synergy, optimize resource allocation and strengthen their relationships with customers across the country. Jason Denstedt now assumes the role of Vice-President of National ED Sales, overseeing the national Electrical… Read More…

  • Nesco Announces New Sales Agent for Northern Ontario

    Nesco Announces New Sales Agent for Northern Ontario

    January 16, 2025 Nesco is pleased to announce the appointment of Sean Atkinson at Resilient Sales as their sales agent for Northern Ontario, effective January 1st, 2025. “Sean is replacing Steve Wallace, who after decades of providing tireless customer service and sales support is focusing on family and enjoying some well-deserved downtime in retirement,” commented… Read More…

  • ABB and Wieland Electric Partner to Redefine Efficiency in Modular Construction

    ABB and Wieland Electric Partner to Redefine Efficiency in Modular Construction

    January 15, 2025 ABB Electrification’s Smart Buildings Division and Wieland Electric have announced a strategic partnership to revolutionize modular and serial construction with advanced prefabricated electrical installation systems. The collaboration combines Wieland’s innovative connector technology with ABB’s extensive portfolio – including switches, sockets, installation boxes, energy distribution, and smart home solutions – to deliver plug-and-play… Read More…

  • ABB Expands Residential Energy Management Portfolio in North America with Lumin Acquisition

    ABB Expands Residential Energy Management Portfolio in North America with Lumin Acquisition

    January 15, 2025 ABB has announced the acquisition of Lumin, a U.S.-based pioneer and leading provider of responsive energy management systems, to expand its home energy management capabilities in the North American residential sector. The acquisition follows a strategic minority investment by ABB into the company in 2023. Financial terms of the transaction were not… Read More…