TransAlta Renewables to own 303 MW of wind and cogeneration assets

TransAlta Renewables Inc. has entered into definitive agreements for the acquisition of three assets from TransAlta Corporation consisting of:

• a 100 per cent direct interest in the 207 MW Windrise wind project located in the Municipal District of Willow Creek, Alberta;
• a 49 per cent economic interest in the 137 MW Skookumchuck wind facility in operation located across Thurston and Lewis Counties in Washington State; and
• a 100 per cent economic interest in the 29 MW Ada cogeneration facility in operation located in Ada, Michigan.

The total acquisition price for the portfolio of assets is CAD439 million (US$341.7 million), which includes the remaining construction costs for the Windrise wind project. 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 will be deemed effective as at January 1, 2021.