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.

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.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Power Technology Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Power Technology Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now