On March 4, 2025, Hydro One Limited announced that its wholly-owned subsidiary, Hydro One Networks Inc., completed the acquisition of an approximately 48 percent interest in the East-West Tie Limited Partnership from affiliates of OMERS Infrastructure Management Inc. and Enbridge Transmission Holdings Inc.
The East-West Tie Limited Partnership owns the East-West Tie Line, a 450 km, 230 kV double-circuit transmission line, regulated by the Ontario Energy Board (OEB), spanning from Wawa to Thunder Bay, along the north shore of Lake Superior. It was built in partnership with the Bamkushwada Limited Partnership, a consortium of six First Nations jointly owned by Fort William First Nation, Michipicoten First Nation, Biigtigong Nishnaabeg (Ojibways of the Pic River First Nation), Pays Plat First Nation, Netmizaaggamig Nishnaabeg (Pic Mobert First Nation) and Red Rock Indian Band.
Under the terms of the agreement, announced December 19, 2024, Hydro One purchased its interest in the partnership for $257 million. The transaction’s completion results in a partnership with the remaining owners of the East-West Tie Line — the Bamkushwada Limited Partnership and affiliates of NextEra Energy Canada, LP who own approximately 3.5 percent and 48 percent respectively.
Torys acted as counsel to OMERS and Enbridge with a team led by Krista Hill and Stephen Neil, and included Tia Eisner and Emily Stauffer (corporate/M&A), Jonathan Myers (energy regulatory), Dany Assaf and Rebecca Wagner (Competition Act), Andy Gibbons and Aren Thomasian (real estate), Jerald Wortsman and Robbie Wang (tax).
Gowling WLG advised Hydro One and Hydro One Networks with a team led by Paul Harricks and included Ian Macdonald (Competition law),Faran Umar-Khitab (Corporate; M&A), Jaanam Mahboobani (Corporate; M&A), Jessica George (Corporate; M&A; Indigenous), Ian Mondrow (Energy Regulatory), Adam Chamberlain (Environmental and Indigenous), Alex Sadvari (Environmental Law), Aleksandra Finelli (Real Estate), Sara Josselyn (Representation & Warranty Insurance), Paul Carenza (Taxation), Michael Bussmann (Taxation), Chris Alam (Project Finance), Yetunde Amodu (Project Finance), Sukhman Sangha, Leonella Kovalevsky.