Deer Lake First Nation Energized by Wataynikaneyap Power [Yahoo! Finance]
Fortis Inc. Common Shares (FTS)
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Source: Yahoo! Finance
Deer Lake Chief Leonard Mamakeesick states, “Deer Lake is so proud to be an owner of the infrastructure that allowed us to replace diesel-generation as our primary source of power. Not only will grid connection bring us cleaner, more reliable power, but it opens up the possibility to connect new houses and buildings within the community; for example, Deer Lake has been able to build and connect six new homes, a fitness centre, and install a refrigeration system at the arena.” Wataynikaneyap Power is majority-owned by an equal partnership of 24 First Nations, in partnership with Fortis Inc. and other private investors, to build and operate the ‘line that brings light', a $1.9 billion dollar infrastructure project. The 1,800 km Wataynikaneyap Power transmission system will ultimately connect 17 remote First Nations to the Ontario power grid, removing their reliance on diesel-generated electricity. Many of these generators are at capacity and not able to connect new infrastructure.
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