Tonbridge closes Montana-Alberta power line funding

NEW YORK, Oct 27 (Reuters) - Tonbridge Power Inc (TBZ.V) said Tuesday it closed on $161 million of financing from the U.S. Department of Energy's Western Area Power Administration (WAPA) to fund the construction of a power line between the U.S. state of Montana and the Canadian province of Alberta.

Tonbridge, of Toronto, said in a release the money, which comes from WAPA via the American Recovery and Reinvestment Act, should be enough to complete the project.

Tonbridge said it planned to start construction by the end of 2009, noting the project should take about 18 months to build.

Officials at Tonbridge were not immediately available for comment but the company said on its website the 230-kilovolt Montana Alberta Tie Line would run about 215 miles (345 km) from Lethbridge, Alberta, to Great Falls, Montana.

In the past, the company said the line would be able to move about 300 megawatts north or south and that capacity was already under long-term contract with primarily wind farms.

In the future, Tonbridge said it wanted to expand the project.

One megawatt powers about 1,000 homes in Montana or Alberta. (Reporting by Scott DiSavino; Editing by Christian Wiessner)