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ATCO, AltaLink Complete Central East Transfer-Out Project in Alberta

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ATCO (ACO-X.TO) and AltaLink said Tuesday they completed construction of the Central East Transfer-Out (CETO) project to help strengthen Alberta's electricity grid and support the growing demand for energy.

The companies built 135 kilometers of double-circuit 240-kilovolt transmission line between Red Deer and Stettler, Alberta, and upgraded existing substations. These improvements increase Alberta's ability to move electricity from central east Alberta to other parts of the province, according to the statement.

ATCO and AltaLink also secured a multimillion-dollar loan from the Canada Infrastructure Bank to finance the project. The financing is expected to save Albertans approximately C$135 million over the project's 30-year financing term, the companies added.

"The demand for reliable, affordable and sustainable electricity continues to grow in Alberta's

expanding economy. The energization of CETO plays an important role in meeting that need," AltaLink President Paul Lee said.

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