CIB lends USD 208m for Alberta power line

The Canada Infrastructure Bank (CIB) on Thursday said it is providing a CAD-283.5-million (USD 208.2m/EUR 192.8m) loan to Alberta electricity transmission companies AltaLink LP and ATCO Electric Ltd to build a 130-kilometre (80.8-mile) high-voltage power line.

The Central East Transfer-Out project, to be owned by the two companies, is located in the counties of Red Deer, Lacombe and Stettler, in the central part of Alberta. It will add 750 MW of capacity to the province’s grid. The project is intended to strengthen grid reliability and boost access to renewable electricity generation. The new power line will ease grid congestion and unlock capacity for the addition of new renewable energy sources, CIB said.

This is the first energy transmission investment by the bank under its CAD-10-billion Clean Power priority sector.

“With the support of the CIB, we are reducing the cost to our customers for this important electrical infrastructure, while strengthening the system and increasing access to renewable energy sources,” said AltaLink president and chief executive Gary Hart.

(CAD 1 = USD 0.734/EUR 0.680)

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