Canadian Utilities sells interest in Alberta PowerLine to consortium.
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.
TD Greystone has many interests in diverse markets. In March, in association with Cadillac Fairview (CF), the firm announced major plans to revitalize one of Toronto’s premiere shopping centers, the CF Fairview Mall.
Canadian Utilities holds an 80% stake in Alberta PowerLine, while Quanta Services holds 20%.
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% 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, Alberta, just west of Edmonton, to Fort McMurray. It was energized in March, three months ahead of schedule.
