Quanta Services signs agreement to sell stakes in Alberta PowerLine

Quanta Services has signed an agreement with Greystone Infrastructure Fund and IST3 Infrastruktur Global for the sale of its 20% stakes in Alberta PowerLine (APL) for CAD300 million (US$227.56 million) and the assumption of CAD1.4 billion (US$1.062 billion) in debt.

APL is a joint venture partnership of Canadian Utilities Limited (80%) and Quanta Services Inc. (20%). In 2014, it has been selected to design, build, own, and operate the Fort McMurray West 500-kV Transmission Project. The 508-km transmission line project runs from Wabamun, west of Edmonton to Fort McMurray. It was put into operation in March 2019.