Federal regulators approve $161 million loan for Montana-Canada transmission line
By APThursday, November 19, 2009
$161M loan for Montana transmission line approved
BILLINGS, Mont. — Federal regulators have signed off on a $161 million loan to a Canadian company that’s building a 214-mile 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 a subsidiary of Tonbridge Power — the line’s Toronto-based developer.
The public financing, provided through federal stimulus money, will cover most of the project’s estimated $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 late 2010.
