Enbridge Inc. says it has repaid the approximately $151 million principal that was outstanding under the $161 million Transmission Infrastructure Program loan granted in 2009 by the Western Area Power Administration (WAPA) to help kick-start the construction of the Montana-Alberta Tie Line (MATL).
MATL is a 215-mile, 230 kV transmission line running from Great Falls, Mont., to Lethbridge, Alberta, and is designed to support the electric transmission needs of new wind power facilities in north central Montana and buoyant power demand in Alberta.
Subject to certain remaining regulatory approvals, MATL is expected to be in service in the fourth quarter of this year.
"Funding from WAPA was essential to getting the MATL power transmission project off the ground," says Richard Bird, Enbridge’s chief financial officer. "Their continued support has been of great assistance during the development phase of the project.
“Now, as the MATL project approaches completion, it is beneficial for us to replace WAPA's initial funding with conventional financing sources available to us,” he adds. “We look forward to working with WAPA on future transmission projects."
