The $1.34bn project has been developed by Wuskwatim Power Ltd. Partnership, a joint venture between Nisichawayasihk Cree Nation (NCN) and Manitoba Hydro, which is the operator.

In June 2012, the first of three generating units was installed while the rest are expected to be in operation by the end of 2012.

Manitoba Premier Greg Selinger was quoted by renewableenergyworld.com as saying , "For the first time, Manitoba Hydro has fully partnered with a local First Nation impacted by hydro development, ensuring that community members had a say in the planning, design and construction of this facility."

The electricity generated will be directly fed into Manitoba Hydro’s grid.

As per a development agreement signed by the parties in 2006, NCN can own up to one-third of the Wuskwatim project through its wholly-owned corporation, Taskinigahp Power Corporation and has time until July 2013 to exercise its option.