Berkshire Hathaway Inc.'s energy unit is buying SNC-Lavalin’s interests in AltaLink for $3.2B.

AltaLink provides electricity to about 85 per cent of the province.

Warren Buffett's firm will now have full equity ownership in the electrical transmission company.

Berkshire Hathaway Energy owns and operates transmission and distribution lines in the U.S. The Des Moines, Iowa, company also owns or contracts more than 28,000 megawatts of electricity generation.

The deal has the seal of approval from both boards of directors but still needs approval from the Alberta Utilities Commission.

New Democrat leader Brian Mason is calling on the PC gevernment to ask the commission to reject the sale.

“Albertans have been paying for this infrastructure on their electricity bills and now an American company is swooping in to make profits off of the utility lines built and paid for by Albertans,” Mason said. “This is just another example of the tale of two Albertans. The PCs’ deregulated electricity market allows corporations to make massive profits, while Alberta families are left to pay too much on their power bills every month.”

Mason says he would like to see the transmission system in Alberta operated as a public utility. "That would be a way that we could reduce the middle-men that are all drawing profits from the electricity system. It would be a way of controlling and reducing prices in our province."

Buffett is known as one of the world's most successful investors whose net worth is about $66B.

AltaLink operates 280 electricity substations and maintains 12,000 kilometres of transmission lines. Revenue last year topped a half-Billion dollars.

AltaLink’s headquarters will remain in Calgary and the regulatory process is expected to close later this year or in early 2015.

(With files from CTVNews.ca & The Associated Press)