PricewaterhouseCoopers (“PwC”) was engaged by Wataynikaneyap  to complete an assessment of financing and funding options for the development of a transmission line to connect remote First Nations communities in Northwestern Ontario. The connection of First Nations communities currently serviced by diesel generation forms part of the two phase Wataynikaneyap Power project, a First Nations led initiative.

PWC has updated its 2014 Financial Feasibility Study reflecting:

• The addition of Sandy Lake First Nation to the Wataynikaneyap group and this financial feasibility analysis (now 16 communities);
• A new fuel price forecast provided by the IESO;
• Revised growth capital costs and applicable federal subsidies provided by AANDC;
• Updated capital costs and project schedule information, notably a revised in-service date of January 1, 2021; and
• Other updates such as updated cost of capital information from the Ontario Energy Board (“OEB”).

Based on the current state and forecast assumptions, PWC estimates that developing and operating a transmission line connecting the 16 Wataynikaneyap remote communities to the grid will result in a net present value of approximately $1 billion over continued diesel generation during the analysis period (2021-2060).   Canada, Ontario Ratepayers (RRRP), and communities would see significant savings from the project.

‍Due to confidentiality, only an Executive Summary of the PWC Financial Feasibility Report is available to the public.