Energy & Power
Transmission & Distribution
Fort McMurray West 500-kV Transmission Project receives financing
By Ellen Cools
October 3, 2017 — Alberta PowerLine, a partnership between Canadian Utilities Ltd. (an ATCO Ltd. company) and Quanta Services Inc., has raised about $1.4 billion of bonds to finance the Fort McMurray West 500-kV Transmission Project.
The Alberta Electric System Operator (AESO) selected Alberta Powerline in 2014 through a competitive global process to design, build, finance, own, operate and maintain the Fort McMurray West 500-kV Transmission Project.
The project consists of about 500 km of transmission line and associated facilities running from Wabamun (west of Edmonton) to Fort McMurray.
Construction began in the summer of this year, and will conclude when the line goes into service in 2019.
“We are very proud that we have developed a project which supports the continued growth of our province and allows us to build upon and create meaningful relationships with communities,” said Wayne Stensby, managing director, electricity, ATCO. “This project enables the continued modernization of Alberta’s grid, increasing the capacity and reliability of our transmission network.”
The final route approved by the Alberta Utilities Commission incorporated feedback from the public and specialists.