TBZ-V - Powerline from USA-Canada

[Jack_Aster]

This has taken years to get approval for, but after the market closed yesterday the news was anounced and project shall commence soon.

Tonbridge pleased Alberta court rejects MAT appeal

2009-05-05 18:09 ET - News Release

Mr. Johan van't Hof reports

TONBRIDGE ANNOUNCES ALBERTA COURT DISMISSES APPEAL TO MATL POWER LINE

Tonbridge Power Inc., 100-per-cent controlling shareholder of the Montana Alberta Tie Ltd. transmission line project to interconnect the electricity markets of Alberta and the United States through a 300-megawatt transmission line, is pleased that the Alberta Court of Appeal has dismissed the landowner appeal of the permit granted by the Alberta Energy and Utilities Board to the Montana-Alberta Tie line. In Decision 167, Sincennes v. Alberta (Energy and Utilities Board), released on May 5, the court states: "We are satisfied that the EUB's assessment of public interest was made having regard to the broad range of benefits and burdens associated with the construction and operation of the IPL. The assessment was made after a comprehensive review of the specific social, economic and environmental effects of the proposed line, including those that are unique to a merchant line. There is no reason to disturb the conclusion reached by the board with respect to public interest. For these reasons, the appeal must be dismissed."

"MATL is pleased with the Court of Appeal decision," said Bob Williams, Montana Alberta Tie vice-president, regulatory. "We look forward to completing our negotiations to acquire the remaining rights of way, and moving into the construction phase."

The Montana-Alberta Tie line has received all required permits in both Canada and the United States. Negotiations to acquire the remaining Canadian rights of way and the United States easements continue to progress. Montana-based wind farms have purchased all of the capacity on the line with plans to export power to the growing Alberta market.

This now positions the company to complete the senior financing arrangements it is currently working on.

Johan van't Hof, chief executive officer of Tonbridge Power, remarked, upon hearing the news: "We had hoped that this would be the decision, but we were prepared to respect the process regardless of the outcome. I now plan to proceed to engage with landowners personally with the highest level of sensitivity to move this project forward."