THUNDER BAY, ONT. — The Government of Ontario is welcoming news of increased First Nations ownership of the East-West Tie (EWT) Transmission Line.
Bamkushwada LP (BLP), representing six First Nations on the shores of Gichigami (Lake Superior), has increased its equity stake in the line from 3.5 per cent to 20 per cent, with the support of a provincial guarantee, states a release.
Through the Indigenous Opportunities Financing Program (IOFP), the province is providing a guarantee of up to $75 million to support the expanded ownership stake, backed by a loan from Canada Life.
The 450-kilometre, 230-kilovolt line, which came into service in March 2022, connects Wawa and the municipality of Shuniah, near Thunder Bay.
Administered by the Building Ontario Fund, the IOFP seeks to advance economic reconciliation and prosperity by enabling financial participation of Indigenous partners in Ontario-based infrastructure projects, the release adds.
“Increasing the six First Nations’ ownership in this project is long overdue,” said Chief Duncan Michano, chief of Biigtigong Nishnaabeg First Nation and president of BLP, in a statement. “However, it is a powerful example of what we can achieve by working together within our traditional territories. With the support of the Indigenous Opportunities Financing Program and the Building Ontario Fund, First Nations are not only partners in infrastructure, but leaders in building a reliable, sustainable system that supports Ontario’s growing energy needs.”
The remaining 80 per cent ownership in the East-West Tie Transmission Line is split between a NextEra Energy Transmission affiliate (40 per cent) and Hydro One (40 per cent).
Construction was supported by a 60 per cent Indigenous workforce and provided training opportunities for more than 200 Indigenous workers, the release adds.
