TransCanada Ends Coal-fired PPAs as Alberta Targets Coal Plants for Closure

SUGAR LAND--April 15, 2016--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--TransCanada Corporation (NYSE:TRP) (Calgary, Alberta) last month terminated three power-purchase agreements (PPAs) with coal-fired power plants in Calgary following that province's decision last November to phase out coal-fired power generation by 2030. The PPAs, which totaled about 1,678 megawatts (MW), were with the Sheerness, Sundance A and Sundance B power stations. Units of TransAlta Corporation (NYSE:TAC) (Calgary) own the Sundance stations and 50% of the Sheerness plant. The other 50% of Sheerness is owned and operated by a subsidiary of ATCO Limited (TSX:ATC.X)(Calgary). Within this article: Discusses the termination decision in context of the provincial elections last May, which were won by the New Democratic Party (NDP).