Canada-based energy firm Enbridge has completed its acquisition of all common shares of Tonbridge Power for a total consideration of $20m.
As part of the arrangement plan, Enbridge will also repay about $50m of debt incurred in the development of the 345km Montana-Alberta tie-line (MATL) power transmission project being developed by Tonbridge.
Go deeper with GlobalData
In addition, Enbridge will provide funding for the first 300MW phase of the transmission project, as well as a low-cost expansion to 550-600MW.
Enbridge will incur a total cost of $300m for completion of both phases, of which about half is being funded from the Western Area Power Administration of the US Department of Energy.
MATL is a transmission line connecting Great Falls, Montana to Lethbridge, Alberta.
See Also:
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
