By Anthony Capkun
May 2, 2020 – Hydro One Ltd. reports the Ontario Energy Board has approved the applications for it to acquire Ontario-based utilities Orillia Power Distribution Corp. (OPDC) from the City of Orillia, and the business and distribution assets of Peterborough Distribution Inc. (PDI) from the City of Peterborough.
With a total a total transaction value of $41.3 million, the OPDC deal is expected to close in the coming months. Construction has started on Hydro One’s new grid control centre in Orillia, which will be home to 150-250 employees. When the deal closes, Hydro One anticipates making additional investments in the community, including a new provincial warehouse and regional operations centre.
Valued at $105 million, the PDI deal is also expected to close in the coming months. Hydro One has plans for this community, too, when the deal closes, including a new operations centre and fleet maintenance facility.