Utilities Acquisitions in Canada

Hydro One Limited, through its wholly-owned subsidiary Hydro One Networks Inc., completed the acquisition of an approximately 48% interest in East-West Tie Limited Partnership for about $261 million (including closing adjustments). East-West Tie Limited Partnership owns the East-West Tie Line, a 450-kilometre, 230-kilovolt double-circuit electricity transmission line in northern Ontario regulated by the Ontario Energy Board. Following closing, remaining owners include Bamkushwada Limited Partnership (a consortium of six First Nations) and affiliates of NextEra Energy Canada, LP.

Funds managed by Northleaf Capital Partners acquired a majority stake in Provident Energy Management Inc., a Canadian provider of sub-metering, utility billing, and building automation services focused on multi-residential new construction. Provident’s management team will retain a minority interest as the parties partner to accelerate growth across Canada and the United States. Financial terms were not disclosed.