The Ontario government announced October 29 that it was providing a loan of up to $1.34 billion for the Watay Power Project's construction costs, enabling the project to move forward.
Pikangikum First Nation was the first community in the Watay Power Project to be successfully connected to the provincial power grid in December 2018, giving 3,000 residents access to safe and reliable power and ending reliance on diesel generators.
The project has strong financial, social, and environmental benefits for First Nations, Ontario, and Canada. The project will lead to direct employment and economic benefits for northwestern Ontario, including First Nation community members. Watay Power expects that construction of the project will create an estimated 769 jobs.
"Ontario is committed to working in partnership with First Nations and government partners to connect remote First Nation communities to the electricity grid, remove barriers to community growth, and spur economic development," says Minister Rickford, Minister of Energy, Northern Development and Mines. "These loan agreements signify Ontario's commitment to the project's success and are an important step for construction to proceed."
See also, “Remainder of Wataynikaneyap transmission line approved,” IPPSO FACTO, June 2019.