November 20, 2009
U.S. federal regulator approves $161-million loan for Montana-Canada transmission line
Federal regulators have signed off on a US$161 million loan to a Canadian company that’s building a 350 kilometre power transmission line between Alberta and Montana.
Construction began earlier this month on the 230-kilovolt Montana-Alberta Tie Line, which will run between Great Falls and Lethbridge, Alberta.
On Thursday, the Federal Energy Regulatory Commission approved the loan from the Western Area Power Administration to Calgary-based Montana Alberta Tie Ltd., a subsidiary of Tonbridge Power Inc., the line’s Toronto-based developer.
The public financing, provided through federal stimulus money, will cover most of the project's estimated US$215 million price tag. WAPA will get a one-twelfth ownership as part of the loan agreement.
A dedication ceremony for the transmission line is planned for Nov. 30 in Great Falls. The line is expected to be operational by 2010.
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