TransAlta announces investment by Brookfield Renewable Partners
TransAlta Corporation has announced an investment by Brookfield Renewable Partners and its institutional partners.
Under the terms of the agreement, Brookfield will invest CAD750 million (US$562 million) in TransAlta through the purchase of exchangeable securities, which will be convertible into an equity ownership interest in TransAlta’s Alberta Hydro Assets in the future at a value based on a multiple of the future Hydro Assets’ EBITDA. In addition, Brookfield has committed to purchase TransAlta common shares on the open market to increase its share ownership in TransAlta to 9%.
Country updates
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