Central Corridor Energy Group mandated 2 objectives to pursue the project, and continues to be followed;
1. Provide reliable and accessible energy by connecting remote First Nation communities to the provincial grid
2. Work in partnership to explore transmission development and ownership
Wataynikaneyap means “line that brings light” in Anishiniiniimowin, named by the Elders who provided guidance to the partners.
Wataynikaneyap Power LP (the “Wataynikaneyap”) is a licensed transmission company equally owned by 24 First Nations communities (51%), in partnership with Fortis Inc. and other private investors (49%). FortisOntario has a 49% interest in the general partner of Wataynikaneyap, while 24 First Nations communities equally hold the remaining 51% interest. The 24 First Nations communities will maintain their ability to increase their ownership and control to 100% in anticipation of such purchase right becoming available (25 years following the operation date for the Wataynikaneyap Transmission Line)..
24 First Nations Partnership also owns 100% of Opiikapawiin Services LP. FortisOntario owns 100% of Wataynikaneyap Power PM Inc. (the “Project Manager”).
To connect remote First Nation communities currently powered by diesel generation to the electrical grid, Wataynikaneyap will develop, own, and operate approximately 1,800 kilometers of 230 kV, 115 kV, and 44 kV lines in northwestern Ontario (the “Project”). Continued use of diesel generation to power First Nations communities is financially unsustainable, environmentally risky, inadequate, and unreliable to meet community needs.
As the Project continues to develop, Wataynikaneyap is to provide reliable and accessible power to residents, businesses, and industry in the region, while realizing opportunities for First Nations.
FortisOntario is an electric utility which owns and operates Canadian Niagara Power Inc., Cornwall Street Railway Light & Power Company Ltd. and Algoma Power Inc., serving a combined 65,500 customers located in Fort Erie, Port Colborne, Cornwall, Gananoque and the Algoma District of northern Ontario. FortisOntario also owns regulated transmission assets in the Niagara and Cornwall regions, including an international interconnection between New York State and Fort Erie, Ontario. It has approximately 3,460 km of distribution and transmission lines.
FortisOntario is a wholly-owned subsidiary of Fortis Inc. (“Fortis”). Fortis is a leader in the North American regulated electric and gas utility industry with 2018 revenue of $8.4 billion and total assets of approximately $52 billion. The Corporation's 8,800 employees serve utility customers in five Canadian provinces, nine U.S. states and three Caribbean countries. Fortis shares are listed on the TSX and NYSE and trade under the symbol FTS.
– WPLP Ownership Structure