Hydro One partners with First Nations to invest in Ontario transmission line

Nov 24 (Reuters) - Canadian utility firm Hydro One H.TO said on Monday Ontario's energy regulator would amend its transmission licence, allowing it to build a new priority transmission line between Bowmanville and the Greater Toronto Area to meet the growing power demand.

The move comes amid rising interest from utilities and investors in expanding power capacity to support energy-hungry data centers, transmission lines and renewable projects.

Hydro One will build the double-circuit 500-kilovolt line in partnership with the country's Indigenous peoples' body, First Nations, which can buy a 50% stake in it. The line is expected to be in service in the early-2030s.

Canada had said last year it was providing up to C$5 billion in loan guarantees to help Indigenous groups invest in natural resource projects.

Hydro One said a section of its existing line will be reconductored and enter service in 2027, while a new 230-kV double-circuit line between Lauzon and Lakeshore stations is slated for 2032.

($1 = 1.4104 Canadian dollars)