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.
It runs from west of Drayton Valley to west of Edmonton.
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TC Energy says 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 United States and Australia.