in Up Front
print the content item

Des Moines, Iowa-based Berkshire Hathaway Energy has purchased AltaLink, an indirect, wholly owned subsidiary of engineering and construction provider SNC-Lavalin Group Inc., for approximately $2.9 billion in cash.

AltaLink is a regulated transmission-only business headquartered in Calgary, Alberta. The company's assets include 280 substations and approximately 12,000 kilometers of transmission lines.

According to Berkshire, AltaLink will operate as a separate company under its current name and continue to be headquartered and managed in Calgary. The transaction, which has been approved by both the SNC-Lavalin and Berkshire boards of directors, is expected to be complete by the end of this year.

In addition, SNC-Lavalin and Berkshire subsidiary MidAmerican Transmission have mutually agreed to pursue joint transmission projects in North America. The parties will pursue emerging transmission investment opportunities in Canada and the U.S.

Hybrid Energy Innovations

Hybrid Energy Innovations 2015
Latest Top Stories

To Help Combat Costly Electricity Theft, Emerging Markets Turn To Smart Grid Infrastructure

According to a new report, the world loses a whopping $89.3 billion to electricity theft annually, and emerging country markets are feeling a majority of the pain.


Report: Utilities Face Big Revenue Cuts From Distributed Energy Resources

According to a new report from Accenture, the growth of solar and other resources, such as energy storage, could mean significant losses for utilities.


NextEra To Acquire Hawaiian Electric In $4.3 Billion Merger Deal

If approved, the agreement between the two energy companies would produce one of North America's largest renewable energy players.


EPA Racks Up Over 1.6 Million Comments On Carbon Pollution Plan

Months after the U.S. Environmental Protection Agency released its Clean Power Plan, which will create new regulations for existing power plants, the agency says it has received loads of feedback to consider.


Smart Grid Interest Continues To Spread Among U.S. Rural Utilities

A new survey gauges rural smart grid efforts across the country and offers key findings, one of which is that nearly all utilities polled are doing something to modernize their systems.

S&C Electric_id176
edf_id180