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TransAlta and Capital Power Reach Agreement to Swap Non-Operating Interests in Keephills 3 and Genesee 3
TransAlta and Capital Power Reach Agreement to Swap Non-Operating Interests in Keephills 3...
About this update from Transalta Corporation
[{"type":"text","content":"\n\n\n\nTransAlta and Capital Power Reach Agreement to Swap Non-Operating Interests in Keephills 3 and Genesee 3\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Aug. 2, 2019\n\n\n\nTransaction will result in TransAlta owning 100% of the Keephills 3 Facility and Capital Power owning 100% of the Genesee 3 Facility  \n CALGARY, Aug. 2, 2019 /CNW/ - TransAlta Corporation (\"TransAlta\" or the \"Company\") (TSX: TA; NYSE: TAC) announced today that it has entered into definitive agreements with Capital Power Corporation (\"Capital Power\") providing for the swap of their respective non-operating interests in the Keephills 3 facility and the Genesee 3 facility (the \"Transaction\").   As a result of the Transaction, TransAlta will own 100% of the Keephills 3 facility and Capital Power will own 100% of the Genesee 3 facility. The purchase prices for each non-operating interest will be largely set-off against each other, resulting in a net payment of approximately $10 million being made from Capital Power to TransAlta, subject to working capital adjustments.  \n\"Today marks another important step in our transition to becoming Canada's leading clean power company,\" stated Dawn Farrell, President and Chief Executive Officer of TransAlta. \"This transaction consolidates our control and operation of the Keephills 3 facility and allows us greater flexibility in pursuing our strategy of accelerating the coal-to-gas conversions.\"\nThe Keephills 3 facility is a 463 MW coal-fired generating facility located approximately 70 kilometers west of Edmonton, Alberta, adjacent to TransAlta's existing Keephills Unit 1 and Unit 2 power plants. TransAlta and Capital Power are currently equal partners in the ownership of the Keephills 3 facility, with TransAlta being responsible for its operations. The Keephills 3 facility achieved commercial operation in 2011 and has been identified as a candidate for TransAlta's intended coal-to-gas conversions.    \nThe Genesee 3 facility is a 466 MW coal-fired generating facility located approxima...