In 2008, AltaLink continued to deliver much-needed electric transmission projects to keep the lights on for Albertans. Following the unprecedented period of expansion in the province, Altalink's focus is on reinforcing its system and building essential transmission infrastructure.
"The need for investment in a more modern and smarter transmission grid in Alberta remains clear," said Scott Thon, AltaLink's president and chief executive officer. "Whether to enable diverse, new renewable electricity sources or improving the efficiency and reliability of the existing system, transmission is a key to unlocking the benefits of the electric system for Albertans. These investments not only ensure a safe, reliable and cost-effective electricity system, but also bring valuable jobs and new opportunities for our province."
Highlights of AltaLink's operations in 2008 included:
- Safely and efficiently carrying out a capital construction program with investments of $174.4 million in facilities for our customers;
- Successfully refinancing $100.0 million of long-term debt which matured in 2008;
- Completing the Keephills Ellerslie Genesee (KEG) transmission line on April 6, 2008, the first 500-kV line to be energized in Alberta in more than 20 years;
- Enabling up to 2,700 MW of future Alberta renewable wind power resource by completing the hearing process with the Alberta Utilities Commission for the 240-kV Southwest Development project together with moving forward on the first phase of the proposed Southern Alberta transmission reinforcement project.