Deal is valued at $16 million.
September 24, 2015
by PLANT Staff
CALGARY — VNM Rural Electrification Association (REA) members have voted to sell their electricity system assets to FortisAlberta.
At a special general meeting in June, 97% of members voted in favour to sell these assets. VNM REA is located in the Barrhead and Westlock County area, northwest of Edmonton.
The sale, valued at $16 million, is subject to the approval of the Alberta Utilities Commission.
FortisAlberta has a long-standing relationship with VNM REA and has partnered with them to operate their electricity distribution system for 65 years.
FortisAlberta provides electricity to farms, businesses and homes in more than 200 communities across rural Alberta with more than 120,000 kilometres of power lines.