Canadian Utilities sells interst in Alberta PowerLine to consortium

CALGARY — Canadian Utilities Ltd. and its partner Quanta Services Inc. have signed a deal to sell Alberta PowerLine for approximately $300 million and the assumption of $1.4 billion of debt.

The buyer is a consortium including TD Greystone Asset Management.

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Canadian Utilities holds an 80 per cent stake in Alberta PowerLine, while Quanta Services holds 20 per cent.

As part of the sale, Canadian Utilities is offering an opportunity for Indigenous communities along the transmission line route to obtain up to a 40 per cent equity interest in Alberta PowerLine.

The final ownership mix will be determined upon close of the purchase option for Indigenous communities.

The 508-kilometre transmission line runs from from Wabamun, Alta., just west of Edmonton, to Fort McMurray, Alta. It was energized in March, three months ahead of schedule.

Companies in this story: (TSX:CU)

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