- Ivy Charging Network™ to install 160
fast-chargers across 73 locations by the end of 2021 -
TORONTO, Feb. 14, 2020 /CNW/ - Today, Hydro One Limited
(Hydro One) and Ontario Power Generation (OPG) announced the launch
of Ivy Charging Network™, a new company, which will create
Ontario's largest and most
connected electric vehicle fast-charger network.
"We play a critical role in energizing life in communities
across Ontario. This fast-charger
network will create a better and brighter future through a greener
transportation sector while meeting the evolving energy needs of
our customers and all Ontarians," said Imran Merali, Vice President, Customer Service,
Hydro One, and Co-President of Ivy Charging Network. "By entering
this growing market in partnership with OPG, Hydro One is expanding
our product and service offering to deliver greater value for
our customers, employees, communities and shareholders."
The company's 160 level 3 fast-chargers will be at 73 locations
across Ontario, which will help
alleviate electric vehicle range anxiety, as Ivy's locations will
be less than 100 kilometres apart on average.
"Having delivered the world's largest single climate change
action to date with the closure of our coal stations, OPG's clean
power serves as a strong platform to electrify carbon-heavy sectors
like transportation," said Theresa
Dekker, Vice President, Corporate Business Development &
Strategy for OPG, and Co-President of Ivy Charging Network. "That's
why we're so pleased to be partnering with Hydro One on an
initiative that will broaden the benefits of electrification,
providing a reliable, integrated network while ensuring no
additional cost to ratepayers."
Natural Resources Canada (NRCan), through its Electric Vehicle
and Alternative Fuel Infrastructure Deployment Initiative
(EVAFIDI), provided an $8 million
repayable contribution to Hydro One and Ontario Power Generation to
help build the EV network.
"Our government is committed to supporting innovative, green
infrastructure projects that will bring us closer to a competitive,
zero-emissions transportation sector," said the Honourable Navdeep
Bains, Minister of Innovation, Science and Industry, on behalf of
the Honourable Seamus O'Regan, Canada's Minister of Natural Resources.
"Today's investment will ensure that Canadian-made solutions are at
the forefront of solving the global climate change crisis, leaving
our children and grandchildren with a healthier planet and cleaner
air to breathe."
Ivy Charging Network™ selected Greenlots, a member of the Shell
Group and leader in electric vehicle charging and management
solutions as its service provider to operate and manage the
network. Ivy Charging Network is a limited partnership with equal
ownership between Hydro One and OPG. As an unregulated business, it
can provide a new revenue stream for both companies while not
affecting Ontario electricity
rates.
More information can be found at www.ivycharge.com.
Hydro One Limited (TSX: H)
Hydro One Limited, through
its wholly-owned subsidiaries, is Ontario's largest electricity transmission and
distribution provider with approximately 1.4 million valued
customers, approximately $27.1
billion in assets as at December 31,
2019, and annual revenues in 2019 of approximately
$6.5 billion. Our team of
approximately 8,800 skilled and dedicated employees proudly build
and maintain a safe and reliable electricity system which is
essential to supporting strong and successful communities. In 2019,
Hydro One invested approximately $1.7
billion in its transmission and distribution networks and
supported the economy through buying approximately $1.5 billion of goods and services. We are
committed to the communities where we live and work through
community investment, sustainability and diversity initiatives. We
are designated as a Sustainable Electricity Company by the Canadian
Electricity Association. Hydro One Limited's common shares are
listed on the TSX and certain of Hydro One Inc.'s medium term notes
are listed on the NYSE. Additional information can be accessed at
www.hydroone.com; www.sedar.com or www.sec.gov).
Forward-Looking Statements and Information:
This press
release may contain "forward-looking information" within the
meaning of applicable securities laws. Words such as "expect",
"anticipate", "intend", "attempt", "may", "plan", "will", "can",
"believe", "seek", "estimate", and variations of such words and
similar expressions are intended to identify such forward-looking
information. These statements are not guarantees of future
performance or actions and involve assumptions and risks and
uncertainties that are difficult to predict. Therefore, actual
outcomes and results may differ materially from what is expressed,
implied or forecasted in such forward-looking information. Some of
the factors that could cause actual results or outcomes to differ
materially from the results expressed, implied or forecasted by
such forward-looking information, including some of the assumptions
used in making such statements, are discussed more fully in Hydro
One's filings with the securities regulatory authorities
in Canada, which are available on SEDAR at www.sedar.com.
Hydro One does not intend, and it disclaims any obligation, to
update any forward-looking information, except as required by
law.
About OPG:
OPG is the largest electricity generator in
the province, providing almost half the power Ontarians rely on
every day. It is also one of the most diverse generators in
North America with nuclear, hydro,
biomass, solar and gas assets.
SOURCE Hydro One Limited