The Etobicoke Greenway Project supports the
city's growing energy needs
TORONTO, Sept. 5,
2023 /CNW/ - Hydro One Networks Inc. (Hydro One)
announced today that it has filed an application with the Ontario
Energy Board (OEB) to upgrade an existing transmission line and
operate it at a higher voltage as part of its Etobicoke Greenway
Project. The $73.1 million investment
will help meet the growing energy demand of homes,
businesses and public transit initiatives by bringing an
additional 300 MW of clean power to the region – enough to power a
city the size of Burlington,
Ontario, while also creating a new community green space
along the corridor which connects Richview Transformer Station (TS)
and Manby TS.
"Hydro One is proud to have reached this significant milestone
in the project that once complete, will help unlock Toronto's clean energy future and support the
region's growing energy needs," said Andrew Spencer, Executive
Vice President, Capital Portfolio Delivery, Hydro One. "As
families, businesses and communities transition to a cleaner,
low-carbon lifestyle, Hydro One will continue investing in its
grid, ensuring Ontario remains an
attractive place to invest, live and work."
"Hydro One's Etobicoke Greenway Project will provide additional,
clean electricity that supports the growth of our neighbourhoods
and businesses," said Kinga Surma,
Member of Provincial Parliament, Etobicoke Centre. "I look forward
to continuing to collaborate with Hydro One and the community to
bring this critical project to life."
Filing a leave to construct application under Section 92 of the
Ontario Energy Board Act, 1998, is a requirement for
Ontario electricity transmitters
to obtain approval from the OEB to construct, expand, or reinforce
electricity transmission or interconnections. The application
submitted by Hydro One provides details of the project, such as
timing, route, design and cost.
This project was identified in the Toronto Integrated Regional
Resource Planning process, led by the Independent Electricity
System Operator, to support economic growth and transit
electrification. In June 2022, Hydro
One initiated a Class Environmental Assessment (Class EA) to
rebuild and upgrade an existing non-energized 115 kilovolt (kV)
transmission line into a 230 kV line. As a key part of the Class
EA, Hydro One committed to working closely with the community to
create a shared vision for how the hydro corridor could be used for
a new community green space once the project has been
completed.
For more information about the project, please visit Etobicoke
Greenway. Community members are encouraged to contact Hydro One at:
1-877-345-6799 or Community.Relations@HydroOne.com.
Hydro One Limited (TSX:
H)
Hydro One Limited, through its wholly-owned subsidiaries,
is Ontario's largest electricity transmission and
distribution provider with approximately 1.5 million valued
customers, approximately $31.5 billion in assets as
at December 31, 2022, and annual revenues in 2022 of
approximately $7.8 billion.
Our team of approximately 9,300 skilled and dedicated employees
proudly build and maintain a safe and reliable electricity system
which is essential to supporting strong and successful communities.
In 2022, Hydro One invested approximately $2.1 billion in its transmission and distribution
networks, and supported the economy through buying approximately
$1.9 billion of goods and services.
We are committed to the communities where we live and work through
community investment, sustainability and diversity initiatives. We
are designated as a Sustainable Electricity Leader™ by Electricity
Canada.
Hydro One Limited's common shares are listed on the TSX and
certain of Hydro One Inc.'s medium term notes are listed on the
NYSE. Additional information can be accessed
at www.hydroone.com, www.sedarplus.com
or www.sec.gov.
Forward-Looking Statements and
Information:
This press release may contain "forward-looking information"
within the meaning of applicable securities laws. Words such as
"expect", "anticipate", "intend", "attempt", "may", "plan", "will",
"can", "believe", "seek", "estimate", and variations of such words
and similar expressions are intended to identify such
forward-looking information. These statements are not guarantees of
future performance or actions and involve assumptions and risks and
uncertainties that are difficult to predict. Therefore, actual
outcomes and results may differ materially from what is expressed,
implied or forecasted in such forward-looking information. Some of
the factors that could cause actual results or outcomes to differ
materially from the results expressed, implied or forecasted by
such forward-looking information, including some of the assumptions
used in making such statements, are discussed more fully in Hydro
One's filings with the securities regulatory authorities in
Canada, which are available on
SEDAR at www.sedar.com. Hydro One does not intend, and it disclaims
any obligation, to update any forward-looking information, except
as required by law.
SOURCE Hydro One Inc.