Penhold is a town in central Alberta, Canada. Penhold is surrounded by the county of Red Deer No. 23, 16 km (9.9 mi) south of Red Deer at the junction of Highway 2A and Highway 42. It is located 128 kilometres (80 mi) north of Calgary, along the Red Deer River.
Originally, Penhold was one of the many whistle stops along the Canadian Pacific Railway. It incorporated as the Village of Penhold in 1904.
In 1981, the Village of Penhold incorporated as a town as a result of large population growth in the late 1970s.
During the second world war a Royal Canadian Air Force Station was established near the community. The station was closed in 1994.
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