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TransAlta Targets 2 GW Renewables by 2025 (Ind. Report)
TransAlta
Date: 2021-09-29
Calgary, Alberta-based power generator TransAlta Corp reports it plans to invest $3 billion ($2.4 billion) in developing, building and acquiring 2 GW of new renewable energy and energy storage assets to its fleet by the end of 2025. The company will also work to execute its 3-GW development pipeline by 2025.

Additionally, TransAlta plans to suspend its Sundance Unit 5 coal power plant repowering project, as well as retire Keephills Unit 1 from December 31, 2021 and Sundance Unit 4 from April 1, 2022.

The company's development pipeline stands at 1.2 GW in the US, up to 2 GW in Canada and 270 MW in Australia. (Source: Transalta, PR, 28 Sept., 2021) Contact: Transalta, (855) 255-9184, www.transalta,com

More Low-Carbon Energy News TransAlta,  Renewable Energy,  


TransAlta Snares 122 MW, NC Solar Portfolio (M&A, (Ind. Report)
Copenhagen Infrastructure,Transalta
Date: 2021-09-03
Calgary-based TransAlta Renewables Inc. is reporting definitive agreements for the acquisition of a 122 MW portfolio of operating solar facilities located in North Carolina from a fund managed by Copenhagen Infrastructure Partners for $96.65 million, subject to working capital adjustments and the assumption of existing tax equity obligations.

The North Carolina Solar portfolio incorporates 20 solar photovoltaic facilities across North Carolina, with an aggregate capacity of 122 MW. The facilities are all operational and were commissioned between November 2019 and May 2021, and have PPAs in place with Duke Energy subsidiaries with an average remaining term of 12 years. Under the PPAs, Duke receives the renewable electricity, capacity, and environmental attributes from each facility. (Source: Transalta, PR, Sept., 2021) Contact: Copenhagen Infrastructure Partners, Kristina Negendahl Jessen, +45 70 70 51 51, cip@cip.dk, www.cip.dk; TransAlta, (855) 255-9184, www.transalta.com

More Low-Carbon Energy News Copenhagen Infrastructure,  Transalta,  Solar,  Duke Energy,  


TransAlta Renewables Acquired 122 MW, NC Solar Portfolio (M&A)

Date: 2021-09-02
Calgary-based TransAlta Renewables Inc. is reporting definitive agreements for the acquisition of a 122 MW portfolio of operating solar facilities located in North Carolina (collectively, “North Carolina Solar”).

The assets will be acquired from a fund managed by Copenhagen Infrastructure Partners for US$96.65 million, subject to working capital adjustments and the assumption of existing tax equity obligations. The acquisition will be funded using existing liquidity. Income distributions to the Company will be net of cash and tax attributes provided to the tax equity investor. The acquisition is subject to customary regulatory approvals and is expected to close in the fourth quarter of 2021. The transaction is structured so that at closing, TransAlta Renewables will acquire a 100% economic interest in North Carolina Solar from a wholly-owned subsidiary of TransAlta Corporation through a tracking share structure.

. The North Carolina Solar portfolio consists of 20 solar photovoltaic facilities across North Carolina, with an aggregate capacity of 122 MW. The facilities are all operational and were commissioned between November 2019 and May 2021. The facilities are secured by long-term power purchase agreements (“PPAs”) with two subsidiaries of Duke Energy (“Duke”), which have an average remaining term of 12 years. Under the PPAs, Duke receives the renewable electricity, capacity, and environmental attributes from each facility. North Carolina Solar is expected to generate an average annual EBITDA of approximately US$9 million and average annual cash available for distribution (“CAFD”) of approximately US$7 million. The $96 million acquisition is expected to produce approximately 195,000 MWh per year; average annual EBITDA and CAFD of approximately US$9 million, and US$7 million; respectively; an investment Tax Credit (ITC) Partnership flip-based tax equity structures with target flip dates in 2026-- 2028, with assumed tax equity obligations of US$28 million at close, reducing to US$11 million by end of 2021 upon monetization of the ITC; and long term contracted cashflows with investment grade counterparties. The portfolio includes: 20 operating facilities across North Carolina ranging in size from 3.2 MW to 6.7 MW;commercial operational dates ranging from November 2019 to May 2021, andaverage remaining PPA term of 12 years with Duke. (Source: Transalta, PR, Sept., 2021


Southern Power's Skookumchuck Wind Farm Online (Ind. Report)
Southern Power, Puget Sound Energy
Date: 2020-12-09
Atlanta-based Southern Power, the majority stakeholder of the 136-MW Skookumchuck Wind Facility near Rainier, Washington, reports its 38-turbine wind farm is now online. Calgary, Alberta-based electric power producer and wholesaler TransAlta is the minority owner. The project's energy and associated energy credits will be sold to Puget Sound Energy under a 20-year PPA.

The Skookumchuck project is the company's 12th wind facility in the U.S. Southern Power purchased a majority stake in the facility from Renewable Energy Systems (RES) Group in Oct, 2019 for an undisclosed price. The wind farm is expected to generate sufficient power for roughly 30,000 homes. (Source: Southern Power, PR, Website, Daily Chronicle, 6 Dec., 2020)Contact: Southern Power, www.southernpowercompany.com; TransAlta, (855) 255-9184, www.transalta.com; Renewable Energy Systems Group, RES Americas, Andrew Fowler, (303) 439-4225, andrew.fowler@res-americas.com, www.res-americas.com

More Low-Carbon Energy News Renewable Energy Systems Group,  Southern Power,  TransAlta ,  


Southern Power 136-MW WA Wind Farm Online (Ind. Report)
Southern Power, Puget Sound Energy
Date: 2020-12-04
In Atlanta, Southern Company's subsidiary energy wholesaler Southern Power reports its 38-turbine, 136-MW Skookumchuck Wind project in Lewis and Thurston counties, Washington, is now online. The electric power and associated renewable energy credits generated by the facility will be sold to Puget Sound Energy under a 20-year PPA.

Southern Power is the majority owner with TransAlta Corporation holding a minority ownership position in the Skookumchuck Wind Facility which was developed and constructed by Renewable Energy Systems.

Southern Power's wind portfolio includes more than 2,115-MW of wind generation -- part of the company's 4,510-MW renewable fleet of 41 wind and solar facilities operating or under construction. (Source: Southern Power, PR, Power Eng., 1 Dec., 2020) Contact: Southern Power, Bill Grantham, Pres.,(404) 506-5000, www.southerncompany.com; RES Group,www.res-group.com; PSE, David Mills, Snr. VP, CSO, Bob Stolarski, Director Energy Management and Renewables, (425) 454-2000, www.pse.com

More Low-Carbon Energy News Puget Sound Energy,  Renewable Energy Systems,  Southern Company,  Southern Power,  Renewable Energy Systems ,  Wind,  


TransAlta Takes Stake in Skookumchuck Wind Project (M&A)
TransAlta,RES-America
Date: 2019-05-31
Calgary, Alberta-based electric power producer and wholesaler TransAlta reports it has agreed to purchase a 49 pct interest in RES-Americas' 38-turbine Skookumchuck Wind energy project located near the soon to be shuttered Centralia coal plant.

The $200 million project, which is slated to begin producing power by December of this year, will generate 137 MW of electricity, enough to power about 100,000 households. The electricity will be sold to Puget Sound Energy. (Source: TransAlta, Daily Chronicle, 29 May, 2019) Contact: RES Americas, Andrew Fowler, (303) 439-4225, andrew.fowler@res-americas.com, www.res-americas.com; TransAlta, TransAlta, (855) 255-9184, www.transalta.com

More Low-Carbon Energy News TransAlta,  Wind,  RES-America,  

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