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Home: Canadian Construction News: Atco Group Wins $1.4 Billion Electricity Project in Alberta

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Atco Group Wins $1.4 Billion Electricity Project in Alberta

Written by; Markus MacIntyre / TCCN Staff Writer
Added on: Fri Dec 19 2014


ATCO Group (TSE:ACO.X), has been providing electric power and natural gas to Albertan's since its inception in 1947. Yesterday, ATCO announced it, along with Alberta PowerLine in which ATCO has an 80 percent ownership, had won a $1.4 billion (CAD) electricity project in Alberta by Alberta Electric System Operator (AESO),

Alberta Powerline will be in charge of the design, build, own, operate and handle the financing for the Fort McMurray West 500 kilovolt transmission project.

Sett Policicchio, President of ATCO Electric stated, "We are pleased to have come out on top in this international competition to build and operate this critical piece of transmission infrastructure to help meet the growing demand for electricity in our province," adding, "We worked very hard to submit a bid that provided the best possible infrastructure solution at the lowest possible cost to Albertans, a commitment we make every day to millions of customers in delivering electricity and natural gas services across the province."

The firms shares rose 1.5% to $45.79 at 1:47 am in New York.

Valard Construction, in partnership with a Canadian subsidiary of Quanta, wil provide EPC services for the project while ATCO Electric will be in charge of route planning, operations and maintenance of the transmission facilities for a duration of 35 years.

ATCO and Valard are both home grown Alberta companies with a relationship that has lasted decades successfully building northern Alberta's electricity infrastructure.

The project will consist of approx. 500 kilometers of 500 kilovolts transmission line extending from Wabamun (just west of Edmonton) up to Fort McMurray.

The AESO has estimated that the demand for electricity in northeastern Alberta will more than double over the next 10 years. This project will increase the capacity of the electricity system and help to ensure that this economically vital area of the province has the power it needs.

The routing, substations and design of the transmission line will be subject to approval by the Alberta Utilities Commission (AUC). Alberta PowerLine will be discussing with land owners, on the proposed route, the project in more detail.

Alberta PowerLine will be submitting its Facilities Application to the AUC by the end of 2015. If approved, construction of the transmission line is scheduled to start in 2017 and be in service in 2019.

ATCO is a diversified global corporation delivering service and business solutions through leading companies engaged in Structures and Logistics. It has assets of $18 billion and more than 9,000 employees.


Copyright: 2014

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