The Ontario Energy Board (OEB) has approved the sale of Orillia Power Distribution Corporation (OPDC) to Hydro One Inc. (Hydro One).
The sale includes the purchase of all shares of Orillia Power Distribution Corporation for $26.35 million and the assumption of approximately $14.9 million of debt, for a total transaction value of $41.3 million.
It is anticipated the sale will officially close in the coming months.
The City of Orillia is retaining complete ownership of the Orillia Power Generation Corporation.
Mayor Steve Clarke says. “The sale of the distribution arm of Orillia Power to Hydro One will bring tremendous growth and investment to the City.”
For more details, please click here.
The @OntEnergyBoard has approved the sale of the Orillia Power Distribution Corporation to @HydroOne. The sale will close in the coming months and bring tremendous growth and investments to #Orillia. Full details here: https://t.co/ecz1xpq94y pic.twitter.com/6WQB3Z0N83
— City of Orillia (@cityoforillia) April 30, 2020