Hydro One has received approval to acquire the utilities of Orillia Power Distribution Corp. (OPDC) the business and distribution assets of Peterborough Distribution Inc. (PDI), located in two cities in Ontario.
In August 2016, Hydro One announced it had agreed to take complete ownership of OPDC for a total of C$41.3 million ($29.7 million), including debt and regulatory liabilities. Construction has started on Hydro One's new grid control center in Orillia, Canada.
Two years later, Hydro One agreed to acquire the business and distribution assets of PDI for C$105 million ($75 million).
“These strong partnerships will energize life in the city of Orillia and the city of Peterborough for years to come through our continued investment in exceptional customer service, safe and efficient operations, and community initiatives,” said Mark Poweska, president and CEO of Hydro One.
The deals are expected to close in the coming months.
Hydro One is Ontari
