Bennett Jones acted for the successful proponent team in Alberta PowerLine, the 2017 P3 Deal of the Year for the Americas, awarded by Project Finance International (PFI). The firm represented Canadian Utilities Limited as equity investor, ATCO Electric Ltd., the operating and maintenance contractor and construction contractor co-venturer, and the Alberta PowerLine Limited Partnership, the project entity.
PFI says the Alberta PowerLine transaction combined an innovative power financing with a deal structure typically seen in public-private partnerships. The deal represented the largest P3 bond transaction in Canadian history. The 311-mile Fort McMurray West transmission line project was designed to increase transmission capacity within the Alberta region to accommodate current and future electricity load growth associated with the area’s industrial operations.
