The Canada Infrastructure Bank (CIB) announced on Thursday a CAD 283.5 million loan to Alberta electricity transmission companies AltaLink LP and ATCO Electric Ltd for the construction of a 130-kilometre high-voltage power line.
Dubbed the Central East Transfer-Out project, the initiative, spanning Red Deer, Lacombe, and Stettler counties, aims to bolster grid reliability and facilitate access to renewable energy sources.
Expected to inject 750 MW of capacity into Alberta's grid, the project marks the CIB's inaugural energy transmission investment under its CAD 10 billion Clean Power initiative.
According to the CIB, the new infrastructure will alleviate grid congestion and pave the way for integrating additional renewable energy generation.
AltaLink President and CEO Gary Hart expressed optimism about the venture, stating, “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.”
