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(Reuters) - Canadian utility firm Hydro One said on Tuesday it would partner with the country's Indigenous peoples' body, First Nations, to develop and construct a new priority transmission line in Northeast Ontario.
Canada had said in April it was providing up to C$5 billion ($3.49 billion) in loan guarantees to help Indigenous groups invest in natural resource projects.
The program is expected to give the groups major investment opportunities for oil pipelines, power lines and wind and solar projects.
Hydro One said on Tuesday the proposed project is a new, 260-kilometre, 500-kilovolt (kV) transmission line, initially energized at 230 kV between the Wawa Transformer Station (TS) in Wawa and the Porcupine TS in Timmins, Ontario.
The company said this project, expected to be in service by the end of 2030, is aimed at supporting the rapid increase in electricity demand expected in northern Ontario.
($1 = 1.4309 Canadian dollars)
(Reporting by Pooja Menon in Bengaluru; Editing by Shreya Biswas)