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Released July 12, 2023 | sugar land
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Researched by Industrial Info Resources (Sugar Land, Texas)--TransAlta Corporation (NYSE:TAC) (Calgary, Alberta) said Tuesday it has entered a definitive agreement to acquire all outstanding common shares of its subsidiary TransAlta Renewables in a cash and stock acquisition. Industrial Info is tracking more than US$4 billion worth of active projects from TransAlta, nearly all of which are for wind or solar-generation projects.
Under the terms of the deal, TransAlta would pay US$1.04 billion (C$1.38 billion) to acquire all outstanding common shares, and US$602 million (C$800 million) in cash to shareholders, according to a July 11 press release.
According to the press release, TransAlta Renewables' portfolio consists of interests in 26 wind facilities, 11 hydroelectric facilities, eight natural gas generation facilities, two solar facilities, one natural gas pipeline, and one battery-storage project, representing an ownership interest of 2,965 megawatts (MW) of owned generating capacity, in the provinces of British Columbia, Alberta, Ontario, Québec, New Brunswick, the U.S. states of Pennsylvania, New Hampshire, Wyoming, Massachusetts, Michigan, Minnesota, Washington, North Carolina, and Western Australia. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Plant Database can click here to see a full list of related plant profiles.
The acquisition will support TransAlta's Clean Electricity Growth Plan, which is underway and aims to deliver 2 gigawatts (GW) of new generation and a 5-GW growth pipeline by 2025. TransAlta is planning US$2.7 billion (C$3.6 billion) in capital investment in 2023 to support those targets.
Among the company's largest projects under construction is the 300-MW White Rock East & West Windfarm in Anadarko, Oklahoma, 65 miles southwest of Oklahoma City, which has a total investment value of US$460 million (C$610 million). The 201.4-MW White Rock East and 99.45-MW White Rock West both are expected to utilize wind turbines provided by Vestas Wind Systems A/S (Aarhus, Denmark). M.A. Mortenson Company (Minneapolis, Minnesota) is providing engineering, procurement and construction (EPC) services on the project, which is expected to be completed in May 2024. Another Oklahoma project expected to wrap up next year is the 200-MW Horizon Hill Windfarm in Crescent, 40 miles north of Oklahoma City, which also will utilize Vestas turbines. The Sooner State is known for its windy plains, which have proven ideal for wind-energy developers.
TransAlta has signed a long-term power purchase agreement (PPA) for each of the projects: White Rock features a PPA with Amazon.com Incorporated (NASDAQ:AMZN) (Seattle, Washington) to supply the e-commerce giant with 100% of the project's generation, and Meta Platforms Incorporated (NASDAQ:META) (Cambridge, Massachusetts), the parent company of Facebook, has a PPA for all power generated from Horizon Hill. Subscribers to the GMI Power Project Database can read detailed reports on the White Rock and Horizon Hill projects.
In terms of battery energy storage system (BESS) projects, in Canada, the 180-MW Watercharger BESS addition in Cochrane, Alberta, began construction earlier this year, with completion expected in mid-2024. In addition, TransAlta is co-developing a 100-MW BESS addition at the operational Sunnynook Solar Energy Facility in Alberta with Westbridge Energy Corporation (Vancouver, British Columbia). Subscribers can read more information on the Cochrane and Sunnynook projects.
Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Click here for a full list of reports for active projects from TransAlta.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
Under the terms of the deal, TransAlta would pay US$1.04 billion (C$1.38 billion) to acquire all outstanding common shares, and US$602 million (C$800 million) in cash to shareholders, according to a July 11 press release.
According to the press release, TransAlta Renewables' portfolio consists of interests in 26 wind facilities, 11 hydroelectric facilities, eight natural gas generation facilities, two solar facilities, one natural gas pipeline, and one battery-storage project, representing an ownership interest of 2,965 megawatts (MW) of owned generating capacity, in the provinces of British Columbia, Alberta, Ontario, Québec, New Brunswick, the U.S. states of Pennsylvania, New Hampshire, Wyoming, Massachusetts, Michigan, Minnesota, Washington, North Carolina, and Western Australia. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Plant Database can click here to see a full list of related plant profiles.
The acquisition will support TransAlta's Clean Electricity Growth Plan, which is underway and aims to deliver 2 gigawatts (GW) of new generation and a 5-GW growth pipeline by 2025. TransAlta is planning US$2.7 billion (C$3.6 billion) in capital investment in 2023 to support those targets.
Among the company's largest projects under construction is the 300-MW White Rock East & West Windfarm in Anadarko, Oklahoma, 65 miles southwest of Oklahoma City, which has a total investment value of US$460 million (C$610 million). The 201.4-MW White Rock East and 99.45-MW White Rock West both are expected to utilize wind turbines provided by Vestas Wind Systems A/S (Aarhus, Denmark). M.A. Mortenson Company (Minneapolis, Minnesota) is providing engineering, procurement and construction (EPC) services on the project, which is expected to be completed in May 2024. Another Oklahoma project expected to wrap up next year is the 200-MW Horizon Hill Windfarm in Crescent, 40 miles north of Oklahoma City, which also will utilize Vestas turbines. The Sooner State is known for its windy plains, which have proven ideal for wind-energy developers.
TransAlta has signed a long-term power purchase agreement (PPA) for each of the projects: White Rock features a PPA with Amazon.com Incorporated (NASDAQ:AMZN) (Seattle, Washington) to supply the e-commerce giant with 100% of the project's generation, and Meta Platforms Incorporated (NASDAQ:META) (Cambridge, Massachusetts), the parent company of Facebook, has a PPA for all power generated from Horizon Hill. Subscribers to the GMI Power Project Database can read detailed reports on the White Rock and Horizon Hill projects.
In terms of battery energy storage system (BESS) projects, in Canada, the 180-MW Watercharger BESS addition in Cochrane, Alberta, began construction earlier this year, with completion expected in mid-2024. In addition, TransAlta is co-developing a 100-MW BESS addition at the operational Sunnynook Solar Energy Facility in Alberta with Westbridge Energy Corporation (Vancouver, British Columbia). Subscribers can read more information on the Cochrane and Sunnynook projects.
Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Click here for a full list of reports for active projects from TransAlta.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
