Carr was in the heart of Canada’s oilpatch for private meetings with corporate leaders, amid continuing worry about lack of progress on proposed oilsands export pipelines.
The asset package is comprised of eight facilities with total generating capacity of 76 megawatts. The proceeds from the sale will help fund TransCanada’s $24 billion near-term capital program, CEO Russ Girling said in a statement.
I was a senior officer of TransCanada Pipelines when the Energy East project was conceived and developed commercially, up to the mid-summer of 2014 when I retired (I continue to be a shareholder but obviously I am no longer a company insider).
"I think it is unfortunate for the country that we are not going forward with a project that would be great for our national interests," said Mark Cooper, president of the Saskatchewan Construction Association.
The Northwestern Ontario Municipal Association (NOMA) represents and lobbies for 37 municipalities in the region. Association president Wendy Landry said local communities should have more say over how fast trains can travel, now that a pipeline through the region is no longer an option.
The new project will involve removing an existing 10-inch diameter pipeline and replacing it with approximately 20 km of new 12-inch pipeline.