TransAlta and Tidewater sell Pioneer Pipeline to TC Energy for $255M

TransAlta Corp. and its partner Tidewater Midstream and Infrastructure Ltd. have signed a deal to sell the Pioneer Pipeline to a subsidiary of TC Energy Corp. for $255 million.

The Pioneer Pipeline includes 131-kilometres of operating pipeline in Alberta, which runs from west of Drayton Valley to west of Edmonton.

TC Energy said it plans to integrate the pipeline into its Nova Gas Transmission Ltd. (NGTL) system.

As part of the deal, TransAlta will enter into long-term delivery transportation agreements with NGTL.

TransAlta owns and operates electrical power generation assets in Canada, the U.S. and Australia.