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TransAlta Completes Investment in Skookumchuck Wind Project

December 1, 2020 via NewsWire Tagged With: TSX:TA

CALGARY, AB, Dec. 1, 2020 /CNW/ – TransAlta Corporation (“TransAlta” or “the Company”) (TSX: TA) (NYSE: TAC) announced today that it has closed its 49 per cent equity investment in the Skookumchuck Wind Project (“Skookumchuck”) with Southern Power Company, a subsidiary of Southern Company. Skookumchuck is a 136.8 MW wind project located in Lewis and Thurston Counties, Washington consisting of 38 Vestas V136 wind turbines.

Skookumchuck began commercial operation on November 7, 2020 and has a 20-year power purchase agreement (“PPA”) with Puget Sound Energy, Inc.

“Our investment in Skookumchuck furthers our ambitious objectives as outlined in our Clean Energy … Continue Reading

TransAlta Reports Solid Third Quarter 2020 Results, Fast-Tracks Off Coal and Discontinues All Mining in Canada by End of 2021

November 4, 2020 via NewsWire Tagged With: TSX:TA

CALGARY, AB, Nov. 4, 2020 /CNW/ –

Third Quarter 2020 Highlights

  • Comparable EBITDA(1)(2) of $256 million increased by three per cent from $249 million for the same period in 2019
  • Free cash flow (“FCF”)(1)(2) of $106 million or $0.39 per share compared to $114 million or $0.40 per share for the same period in 2019
  • Adjusted availability was 90.7 per cent compared to 95.2 per cent for the same period in 2019
  • Year-to-date 2020 Financial Highlights

  • FCF(1)(2) of $306 million or $1.11 per share compared to $258 million or $0.91 per share, an increase of 22 per cent on
  • … Continue Reading

    TransAlta and Tidewater Midstream Enter into Agreement to Sell the Pioneer Pipeline to ATCO Gas and Pipelines Ltd.

    October 1, 2020 via NewsWire Tagged With: TSX:TA

    CALGARY, AB, Oct. 1, 2020 /CNW/ – TransAlta Corporation (“TransAlta” or the “Company”) (TSX: TA) (NYSE: TAC) announced today that the Company, with its partner Tidewater Midstream & Infrastructure Ltd. (“Tidewater”), has entered into a Purchase and Sale Agreement with ATCO Gas and Pipelines Ltd. (“ATCO”) to sell the Pioneer Pipeline for a purchase price of CDN $255 million. This agreement replaces the Company’s previous agreement to sell its interest in the Pioneer Pipeline to NOVA Gas Transmission Ltd. (“NGTL”). ATCO acquired the right to purchase the Pioneer Pipeline through an option agreement with NGTL.

    Following closing of … Continue Reading

    TransAlta Reports Solid Second Quarter 2020 Results

    July 31, 2020 via NewsWire Tagged With: TSX:TA

    CALGARY, AB, July 31, 2020 /CNW/ –

    Second Quarter 2020 Highlights

  • Comparable EBITDA of $217 million in line with 2019
  • Free cash flow (“FCF”) of $91 million or $0.33 per share, a 94% increase on a per share basis compared to $49 million or $0.17 per share of FCF for the same period in 2019
  • Adjusted availability was 90.7% compared to 83.8% for the same period in 2019
  • Completed the acquisition of a 29 MW contracted cogeneration facility located in Michigan (“Ada”) for a purchase price of approximately US$27 million
  • Entered into a sale agreement for the sale of
  • … Continue Reading

    Media Advisory: TransAlta Second Quarter 2020 Results and Conference Call

    July 10, 2020 via NewsWire Tagged With: TSX:TA

    CALGARY, AB, July 10, 2020 /CNW/ – TransAlta Corporation (“TransAlta”) (TSX: TA) (NYSE: TAC) will release its second quarter 2020 results before markets open on Friday, July 31, 2020. A conference call and webcast to discuss the results will be held for investors, analysts, members of the media and other interested parties the same day beginning at 9:00 a.m. Mountain Time (11:00 a.m. ET). The media will be invited to ask questions following analysts.

    Please contact the conference operator five minutes prior to the call, noting “TransAlta Corporation” as the company.

    Second Quarter 2020 Conference Call:… Continue Reading

    TransAlta Announces TSX Acceptance of Normal Course Issuer Bid

    May 26, 2020 via NewsWire Tagged With: TSX:TA

    CALGARY, May 26, 2020 /CNW/ – TransAlta Corporation (“TransAlta” or the “Company”) (TSX: TA) (NYSE: TAC) today announced that the Toronto Stock Exchange (“TSX”) has accepted the notice filed by the Company to implement a normal course issuer bid (“NCIB”) for a portion of its common shares (“Common Shares”). 

    Pursuant to the NCIB, TransAlta may repurchase up to a maximum of 14,000,000 Common Shares, representing approximately 7.02% of its public float of Common Shares as at May 25, 2020. Purchases under the NCIB may be made through open market transactions on the TSX and any alternative Canadian trading … Continue Reading

    Media Advisory: TransAlta First Quarter 2020 Results and Conference Call

    April 20, 2020 via NewsWire Tagged With: TSX:TA

    CALGARY, April 20, 2020 /CNW/ – TransAlta Corporation (“TransAlta”) (TSX: TA) (NYSE: TAC) will release its first quarter 2020 results before markets open on Tuesday, May 12, 2020. A conference call and webcast to discuss the results will be held for investors, analysts, members of the media and other interested parties the same day beginning at 9:00 a.m. Mountain Time (11:00 a.m. ET). The media will be invited to ask questions following analysts.

    Please contact the conference operator five minutes prior to the call, noting “TransAlta Corporation” as the company.

    First Quarter 2020 Conference Call:
    Toll-free … Continue Reading

    TransAlta Announces Acquisition of a Contracted Cogeneration Asset in Michigan

    March 17, 2020 via NewsWire Tagged With: TSX:TA

    CALGARY, March 17, 2020 /CNW/ – TransAlta Corporation (“TransAlta”) (TSX: TA) (NYSE: TAC) announced today the acquisition of a contracted cogeneration asset from two private companies for a purchase price of approximately US$27 million, subject to working capital adjustments. The asset is a 29 MW cogeneration facility in Michigan which is contracted under a long-term power purchase agreement and steam sale agreement for approximately six years with high quality counterparties.

    “The acquisition marks our first U.S. cogeneration project and aligns with our strategy of growing our on-site generation business, diversifying our cogeneration portfolio, and increasing the pipeline of … Continue Reading

    TransAlta and Tidewater Midstream Sign Letter of Intent to Sell the Pioneer Pipeline

    March 12, 2020 via NewsWire Tagged With: TSX:TA

    CALGARY, March 12, 2020 /CNW/ – TransAlta Corporation (“TransAlta” or the “Company”) (TSX: TA) (NYSE: TAC) announced today that the Company, with its partner Tidewater Midstream & Infrastructure Ltd. (“Tidewater”), has entered into a Letter of Intent to sell the Pioneer Pipeline to NOVA Gas Transmission Ltd. (“NGTL”), a wholly-owned subsidiary of TC Energy, for a purchase price of CDN $255 million. As part of the transaction, NGTL intends to integrate the Pioneer Pipeline into its natural gas pipeline infrastructure in Alberta.

    The benefits of the transaction to TransAlta include:

  • Access to NGTL’s highly liquid natural gas
  • … Continue Reading

    TransAlta Reports Fourth Quarter and Full Year 2019 Results

    March 4, 2020 via NewsWire Tagged With: TSX:TA

    Fourth Quarter 2019 Highlights

  • Generated $121 million or $0.43 per share of free cash flow (“FCF”) in the quarter compared to $98 million or $0.34 per share of FCF for the same period in 2018, a 26 per cent increase;
  • Advanced our Clean Energy Investment Plan by commissioning 119 MW of new wind generation and acquiring two gas turbines for the Sundance 5 repowered combined cycle unit project;
  • Entered into an agreement to construct and own a new 40 MW cogeneration facility; and
  • Returned $41 million of capital to shareholders in the fourth quarter through the repurchase and cancellation of 
  • … Continue Reading

    TransAlta Increases Free Cash Flow Guidance to $350 million to $380 million

    December 18, 2019 via NewsWire Tagged With: TSX:TA

    CALGARY, Dec. 17, 2019 /CNW/ – TransAlta Corporation (“TransAlta” or the “Company”) (TSX: TA) (NYSE: TAC) announced today that it has increased Free Cash Flow (“FCF”) guidance to $350 million to $380 million from the prior range of $300 million to $340 million.   This expected increase to FCF is primarily attributable to the continued strong performance of the Energy Marketing segment into the fourth quarter.  The gross margin for our Energy Marketing segment is now forecasted to be at the top end of the range of $100 million to $120 million that had been disclosed by the Company … Continue Reading

    TransAlta Reports Solid Third Quarter 2019 Results and Revises Upward Full Year Outlook

    November 7, 2019 via NewsWire Tagged With: TSX:TA

    Financial and Operating Highlights

  • $305 million of comparable EBITDA for the quarter. Excluding PPA Settlements (one-time additional amount of $56 million), comparable EBITDA was $249 million and in line with 2018;
  • $741 million of comparable EBITDA for the nine months ended Sept. 30, 2019. Excluding PPA Settlements, comparable EBITDA was $685 million, 7% lower than 2018;
  • $170 million of free cash flow (“FCF”) for the quarter. FCF from ongoing operations was $114 million, a 21% increase to 2018 FCF;
  • $314 million of FCF for the nine months ended Sept. 30, 2019. Excluding the PPA Settlements,
  • … Continue Reading
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