TORONTO — Ontario’s newly privatized Hydro One electric utility features a $373-million deal to purchase Great Lakes Power Transmission, which operates north and east of Sault Ste. Marie, Ont.
Hydro One says it’ll acquire Great Lakes Transmission from various entities controlled by Brookfield Infrastructure, this can be a a part of a Toronto-based asset management group.
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The former provincial Crown corporation pays $222 million in cash and assume $151 million of outstanding debt owed by Great Lakes, which has 15 transmission stations and 560 kilometres of transmission lines.
Once the sale closes, Hydro One will operate about 98 percent of Ontario’s transmission capacity.
