August 2, 2022, Six Nations – On Wednesday, July 27, Six Nations of the Grand River Development Corporation (SNGRDC) was notified that ITC Investment Holdings Inc. have suspended all project development activities and commercial negotiations on the Lake Erie Connector project.
Over the course of the project investment review, the Six Nations of the Grand River Elected Council (SN Elected Council), Six Nations of the Grand River Economic Development Corporation Group (SNGRDC Group), staff and the community invested considerable efforts in assessing the fit of this project for the Six Nations community. We are disappointed the Six Nations community will not realize the economic benefits from this project.
SNGRDC and SN Elected Council were prepared to enter into a $33 million equity investment deal in the Lake Erie Connector Project.
The project was to consist of 117 km bi-directional, underwater electricity transmission line running between Haldimand County, ON and Erie, Pennsylvania.
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About the Lake Erie Connector Project
The Lake Erie Connector was planned to be a 117 KM, bi-directional, high voltage direct current (HVDC), underwater electricity transmission line. The LEC would have delivered 1,000 MW of power directly between Ontario and the largest electrical market in the world – 13 U.S. Mid-Western and Mid-Atlantic states. One converter station was planned to be located at either end of the cable, in Haldimand County Ontario and Erie, Pennsylvania. The project was being developed by ITC Investment Holdings Inc. and early site work was anticipated to begin in 2023. The end result would have increased market access and the ability to manage energy needs and given Ontario the capacity to respond to shifting supply and demand, outages and system planning requirements. The aim of this project was to improve the reliability and security of the respective energy grids through maximizing use of existing assets – all without taxpayer subsidies.
About Six Nations of the Grand River Development Corporation:
Six Nations of the Grand River Development Corporation (SNGRDC) manages the Six Nations’ economic interests in 20 renewable energy projects and numerous economic development opportunities, in and around the Six Nations territory. SNGRDC’s current green energy portfolio is capable of producing over 1300 MW of renewable energy through its direct or indirect involvement in seven solar, 13 wind project(s). SNGRDC is located on the Six Nations Reserve and employs an average of 140 employees through Nation Enterprise or the administration of Economic Interests projects. For more information, please visit www.sndevcorp.ca