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TransAlta Renewables Announces the Acquisition of 303 MW Portfolio including 274 MW of Wind from TransAlta Corporation
TransAlta Renewables Announces the Acquisition of 303 MW Portfolio including 274 MW of Wi...
About this update from Transalta Corporation
[{"type":"text","content":"\n \n \n \n TransAlta Renewables Announces the Acquisition of 303 MW Portfolio including 274 MW of Wind from TransAlta Corporation\n \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 Canada NewsWire\n \n \n \n \n \n CALGARY, AB\n \n ,\n \n Dec. 23, 2020\n \n /CNW/ - TransAlta Renewables Inc. (\"TransAlta Renewables\" or the \"Company\") (TSX: RNW) announced that it had entered into definitive agreements for the acquisition of three assets from TransAlta Corporation (\"TransAlta\") (TSX: TA) consisting of:\n \n \n \n a 100 per cent direct interest in the 207 MW Windrise wind project located in the Municipal District of\n \n Willow Creek\n \n ,\n \n Alberta\n \n ;\n \n \n a 49 per cent economic interest in the 137 MW Skookumchuck wind facility in operation located across\n \n Thurston\n \n and\n \n Lewis\n \n Counties in\n \n Washington State\n \n ; and\n \n \n a 100 per cent economic interest in the 29 MW Ada cogeneration facility in operation located in\n \n Ada, Michigan\n \n .\n \n \n \n \"We are pleased to announce our acquisition of Windrise and economic interests in the\n \n Skookumchuck\n \n wind and\n \n Ada\n \n cogeneration assets.  This enhances our position in the renewables sector in both\n \n Canada\n \n and the US, launches on-site generation in the US and further extends the contracted duration of our cashflows for ongoing distributions to our shareholders as we continue to target an 80 to 85 per cent payout ratio for our common share dividends,\" said\n \n John Kousinioris\n \n , President of TransAlta Renewables.\n \n \n The total acquisition price for the portfolio of assets is\n \n $439 million\n \n , which includes the remaining construction costs for the Windrise wind project. The Company will fund the cash consideration for the acquisition and remaining construction costs with the proceeds from the South Hedland project financing completed earlier this year.  The transaction will close in separate tranches early in 2021 subject to the satisfaction of certain closing conditions; however, the economic benefit of the transaction ...