In recent years, however, Indigenous communities have secured a number of equity agreements with energy companies, through long negotiation and one-off processes. Indigenous partners have come to Hydro One proposing an alternative model: true partnerships.
In 2022, Hydro One announced its new industry-leading equity partnership model with First Nations on new capital transmission line projects with a value exceeding $100 million. Hydro One's equity model will offer First Nations a 50 per cent equity stake in all future large scale capital transmission line projects and will transform the benefits of infrastructure development for First Nations communities for generations to come. This announcement follows the signing of an agreement in the spring with eight First Nations represented by Gwayakocchigewin Limited Partnership (GLP) for the Waasigan Transmission Line project.
As an example of the new partnership model, this agreement provides the First Nations represented by the GLP with the opportunity to invest in an equity stake in the project. In total, nine First Nations will have the opportunity to invest in 50 per cent of the Waasigan Transmission Line project, which will bolster capacity and support economic growth in northwest Ontario. This model will also apply to the five transmission lines Hydro One is developing in southwest Ontario.
