SIX NATIONS — The development company that was driving the Lake Erie Connector Project has suspended all project development actives and commercial negotiations.
In a statement to the community on August 2, Six Nations of the Grand River Development Corporation said they received notice on July 27 that ITC Investment Holdings Inc. would not be going forward.
“Over the course of the project investment review, the Six Nations of the Grand River Elected Council (SN Elected Council), Six Nations of the Grand River Economic Development Corporation Group (SNGRDC Group), staff and the community invested considerable efforts in assessing the fit of this project for the Six Nations community. We are disappointed the Six Nations community will not realize the economic benefits from this project.”
The proposed Lake Erie Connector Project was an underwater 110-km long power cable between Canada and the United States and would have seen a $33 million dollar investment deal for Six Nations which SNGRDC previously said would bring $118,000 a year as part of a community benefits agreement.
ITC said in April they had the required permits for the project and that it would go forward with or without Six Nations involvement.
Six Nations was in talks with ITC Holdings since the company first approached elected council in 2013.
