Today, Sam Oosterhoff, Associate Minister of Energy-Intensive Industries, alongside Will Bouma, Parliamentary Assistant to the Minister of Indigenous Affairs and First Nations Economic Reconciliation, Michelle Cooper, Parliamentary Assistant to the Minister of Finance, and Kevin Holland, MPP for Thunder Bay–Atikokan, announced that Ontario is supporting increased First Nations ownership in the East-West Tie (EWT) Transmission Line.
As part of our government’s plan to protect Ontario and build a stronger, more reliable electricity system, Ontario is providing a provincial guarantee of up to $75 million the Indigenous Opportunities Financing Program (IOFP) to support Bamkushwada LP’s expanded ownership stake in the transmission line. Representing six First Nations on the shores of Gichigami (Lake Superior), Bamkushwada LP has increased its equity stake in the East-West Tie from 3.5 per cent to 20 per cent, backed by a loan from Canada Life.
This partnership will help deliver long-term economic opportunities for Indigenous communities while supporting reliable energy infrastructure and growth across Northern Ontario.