L-R: Gary Hart (AltaLink), Ehren Cory (Canada Infrastructure Bank), Minister Nathan Neudorf (Government of Alberta) and Melanie Bayley (ATCO Electric), standing in front of an AltaLink transmission line that runs along east Calgary and features similar towers to those planned for the CETO project. (AltaLink)

By Josh Hall | @Vancan19

maintaining affordable rates

$283.5 million being invested for transmission line through central Alberta

Jul 5, 2024 | 9:56 AM

The Canada Infrastructure Bank (CIB) is investing $283.5 million for the purpose of constructing a 130-kilometre high-voltage power line through the counties of Red Deer, Lacombe, Stettler and Paintearth.

The loan will save Albertans $135 million over the 30-year financing of the Central East Transfer-Out project, a news release states.

The transmission line is required to relieve power congestion and distribution capabilities in the area, according to the Alberta Electric System Operator (AESO).

The project will supply over 750 megawatts of electricity to the grid.

“As the demand for electricity continues to grow in Alberta’s expanding economy, our goal remains to provide reliable and affordable electricity to our customers,” says Gary Hart, president and CEO of AltaLink.

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“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.”

This represents CIB’s first investment under its $10 billion Clean Power priority sector, dedicated to addressing financing gaps in new projects such as renewables, transmission, district energy systems and energy storage.

“Our partnership with AltaLink and ATCO will help future proof Alberta’s transmission grid – increasing the amount of available power and enhancing power reliability,” says Ehren Cory, CEO, CIB.

“The investment will enable both transmission companies to advance the construction of the Central East Transfer-Out project, which will deliver energy safely and cost-effectively to homes and businesses in Alberta.”

CIB financing is subject to customary closing conditions, including approval by the Alberta Utilities Commission.

“The Central East Transfer-Out project will underpin Alberta’s growing economy by addressing future electricity availability and augmenting resiliency. Adding 750 MW to our grid will meet this increasing demand while helping to enable a modernized system that can more readily accommodate renewable generation projects,” adds ATCO President Melanie Bayley. “Importantly, the Canada Infrastructure Bank’s significant investment will also help maintain affordable rates for our customers by minimizing financing costs.

This project’s estimated in-service date is June 1, 2026.

A map of AltaLink’s west portion of the line is available here, and the eastern ATCO section can be seen here.

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