We’re pleased to announce that we have signed an agreement to sell OMERS investment in East-West Tie Limited Partnership to Hydro One, Ontario's largest electricity transmission and distribution provider. East-West Tie Limited Partnership owns and operates the East-West Tie transmission project, a newly constructed 450km electrical transmission line in Northern Ontario. Michael Hill, Executive Vice President and Global Head of OMERS Infrastructure, said: “We are very proud of our 12-year partnership with co-shareholders and our collaboration with First Nations to develop and operationalize the East-West Tie. Hydro One, a prominent Canadian company that already owns and operates more than 90 per cent of Ontario's transmission network, was considered the best strategic partner to support the company’s continued reliable operations.” Congratulations to Steven Zucchet and the full team involved! The full media release can be found here: https://lnkd.in/ehbD-jP7
Two great organizations!! Congrats on this agreement and to Steven Zucchet!
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3moCongratulations!