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Press Releases

10/30/2020 - TransAlta Renewables Reports Third Quarter 2020 Results
X
TransAlta Renewables Reports Third Quarter 2020 Results
Source: PR Newswire
CALGARY, AB, Oct. 30, 2020 /PRNewswire/ -
Third Quarter 2020 Highlights
• Comparable EBITDA⁽¹⁾ of $96 million, a $10 million or 12 per cent improvement to the same period in 2019
• Adjusted funds from operations ("AFFO")⁽¹⁾ of $76 million, a $7 million or 10 per cent improvement to the same period last year
• Cash available for distribution ("CAFD")⁽¹⁾ of $73 million or $0.27 per share in the third quarter, an increase of eight per cent on a per share basis as compared to the same period in 2019
Year-to-Date 2020 Highlights
• Comparable EBITDA⁽¹⁾ of $329 million, a $16 million increase over the same period last year
• Adjusted funds from operations ("AFFO")⁽¹⁾ of $261 million, a $18 million improvement to the same period in 2019
• Cash available for distribution ("CAFD")⁽¹⁾ of $232 million or $0.87 per share in the quarter, an increase of six per cent as compared to the same period last year
Subsequent Events
• Achieved commercial operation of WindCharger, Alberta's first utility-scale battery storage project. The project was acquired by TransAlta Renewables in Aug. 2020
• On Oct. 22, 2020, TEC Hedland Pty Ltd. ("TEC"), which owns the South Hedland Power Station, closed an AU$800 million senior secured note offering, by way of private placement, which is secured by, among other things, a first ranking charge over all assets of TEC. TransAlta Renewables owns an indirect economic interest in TEC which forms part of its Australian cash flows. The notes bear interest at 4.07 per cent per annum, payable quarterly, and mature on Jun. 30, 2042 with principal repayments starting on Mar. 31, 2022
• On Oct. 22, 2020, Southern Cross Energy ("SCE") amended and extended its current power purchasing agreement ("PPA") with BHP Billiton Nickel West Pty. Ltd. SCE is composed of four generation facilities with a combined capacity of 245 MW in the Goldfields region of Western Australia. The Company owns an indirect economic interest in SCE which forms part of its Australian cash flows. The amendment extends the term of the PPA from Dec. 31, 2023 to Dec. 31, 2038
• The Company will suspend its Dividend Reinvestment Program ("DRIP") following the payment of the dividend on Oct. 30, 2020
TransAlta Renewables Inc. ("TransAlta Renewables" or the "Company") (TSX: RNW) announced today solid financial results which were in line with expectations for the three months and nine months ended Sept. 30, 2020.
"We had excellent results this quarter and saw strong EBITDA contribution from our newly-developed US wind farms at Big Level and Antrim," said John Kousinioris, President. "These assets are an important example of our renewables growth strategy in the US. The recent financing of our South Hedland asset ensures that we are well-funded and positioned to capitalize on any future organic and acquisition development opportunities."
Comparable EBITDA for the three months ended Sept. 30, 2020 increased by $10 million mainly due to higher Comparable EBITDA from Canadian Wind, US Wind and Solar and Australian Gas, partially offset by lower Comparable EBITDA from Canadian Hydro. Comparable EBITDA from Canadian Wind increased mainly due to higher production and the timing of recognition of carbon offset revenues. Comparable EBITDA from US Wind and Solar increased due to a full period of operations at the Big Level and Antrim facilities which were commissioned in Dec. 2019 and higher wind resources. Comparable EBITDA from Australian Gas increased due to the timing of legal fees and the strengthening of the Australian dollar relative to the Canadian dollar. Canadian Hydro Comparable EBITDA decreased mainly due to a prior year true-up of AESO transmission line losses, an outage at our St. Mary's facility and higher maintenance costs at our Bone Creek and Taylor facilities.
Comparable EBITDA for the nine months ended Sept. 30, 2020 increased by $16 million mainly due to higher Comparable EBITDA from US Wind and Solar and Australian Gas, partially offset by lower Comparable EBITDA from Canadian Wind, Canadian Hydro and Canadian Gas. The key drivers of the changes to Comparable EBITDA from US Wind and Solar, Australian Gas and Canadian Hydro for the nine months ended Sept. 30, 2020 were the same as for the three months ended Sept. 30, 2020. Comparable EBITDA from Canadian Gas decreased due to unfavourable market conditions in Ontario and Canadian Wind decreased due to the timing of carbon offset revenues, insurance proceeds received in 2019 and lower government incentives driven by the planned expiry of certain Wind Power Production Incentives in 2019.
AFFO for the three and nine months ended Sept. 30, 2020, increased by $7 million and $18 million, respectively, and CAFD for the three and nine months ended Sept. 30, 2020, increased by $6 million and $16 million, respectively, compared to the same periods in 2019, primarily due to higher Comparable EBITDA, higher provisions and lower sustaining capital expenditures, partially offset by higher tax equity distributions and higher current income tax expense.
Net earnings attributable to common shareholders for the three months ended Sept. 30, 2020, decreased by $18 million compared to the same period in 2019, as a result of an increase in unrealized losses due to the change in the fair value of financial assets partially offset by higher Comparable EBITDA from Canadian Wind and foreign exchange gains resulting from the strengthening Australian dollar relative to the Canadian dollar. The unfavourable change in fair value of financial assets is largely due to changes in cash flow assumptions accelerating the repayment of the underlying loan on the Preferred Shares Tracking the Amortizing Term Loan in Australia resulting from the South Hedland financing.
Net earnings attributable to common shareholders for the nine months ended Sept. 30, 2020, compared to the same period in 2019, decreased by $92 million, as a result of lower Comparable EBITDA from Canadian Wind, Canadian Hydro and Canadian Gas, a decrease in finance income, an increase in unrealized losses due to a change in the fair value of financial assets and an increase in income tax expense, offset by foreign exchange gains resulting from the strengthening Australian dollar relative to the Canadian dollar. Income tax expense increased period over period by $15 million, mainly due to the recognition in 2019 of a deferred income tax recovery of $18 million related to a decrease in the Alberta corporate tax rate. Variability in finance income and the change in fair value of financial assets is related to the classification of the distributions received from the Company's investments in its economic interests as return of capital or dividends received, timing of dividends declared on the Preferred Shares Tracking Australia Cash Flows, changes in fair value on the Preferred Shares Tracking the Amortizing Term Loan and foreign exchange impacts. Set out below are the key drivers of the changes arising from these investments:
• A reduction in finance income of $17 million was as a result of lower dividends received on the Preferred Shares Tracking Australia Cash Flows which were impacted by the early redemption of AU$45 million of the Preferred Shares Tracking the Amortizing Term Loan
• A higher foreign exchange gain of $59 million, as a result of the strengthening of the Australian and US dollars relative to the Canadian dollar since year-end
• An unfavourable change in fair value of $104 million, relating to cash flow assumptions accelerating the repayment of the underlying loan and an increase in discount rates on the Preferred Shares Tracking the Amortizing Term Loan
COVID-19 Response Update
TransAlta Corporation ("TransAlta"), as the manager and operator of the Company's business and assets, continued to operate under its business continuity plan which ensured that: (i) TransAlta employees that could work remotely did so; and (ii) TransAlta employees that operate and maintain our facilities, and who were not able to work remotely, were able to work safely and in a manner that ensured they remained healthy. During the second and third quarters of 2020, TransAlta successfully brought employees that were working remotely back to the office without sacrificing health and safety standards. All of TransAlta's offices and sites follow strict health screening and physical distancing protocols with personal protective equipment readily available. TransAlta also maintains travel restrictions aligned to local jurisdictional guidance, enhanced cleaning procedures, revised work schedules, and other measures to protect staff and contractors. All of TransAlta Renewables' facilities remain fully operational and are capable of meeting customer needs. TransAlta Renewables continues to work and serve all of its customers and counterparties under the terms of the relevant contracts and the Company has not experienced interruptions to service requirements. Electricity and steam supply continue to remain a critical service requirement to all of the Company's customers and have been deemed an essential service in all of the jurisdictions in which TransAlta Renewables operates.
Although these are unprecedented times, the Company remains highly diversified with facilities that are highly contracted and located in various geographies. Our cash flows have been relatively unaffected in the quarter due to the high contractedness of our asset portfolio and financial strength of our customers. The Company continues to maintain a strong financial position in part due to its long-term contracts. The Company currently has access to $507 million in liquidity, including $24 million in cash.
Third Quarter Ended Sept. 30, 2020 Highlights
In $CAD millions, unless otherwise stated	3 Months Ended		9 Months Ended
	Sept. 30, 2020	Sept. 30, 2019	Sept. 30, 2020	Sept. 30, 2019
Renewable energy production (GWh)(2)	864	706	3,135	2,574
Revenues	95	89	308	327
Net earnings attributable to common shareholders	6	24	39	131
Comparable EBITDA(1)	96	86	329	313
Adjusted funds from operations	76	69	261	243
Cash flow from operating activities	65	75	218	258
Cash available for distribution	73	67	232	216
Net earnings per share attributable to common shareholders, basic and diluted	0.02	0.09	0.15	0.50
Adjusted funds from operations per share(1)	0.29	0.26	0.98	0.92
Cash available for distribution per share(1)	0.27	0.25	0.87	0.82
Dividends declared per common share	0.23	0.23	0.70	0.70
Dividends paid per common share(3)	0.23	0.23	0.70	0.70
The following tables provide further detail on the allocation of the Comparable EBITDA between owned assets and assets in which TransAlta Renewables holds an economic interest; as well as a reconciliation to AFFO.
3 Months Ended Sept. 30 ($CAD millions)	2020			2019
	Owned Assets	Economic Interest	Total	Owned Assets	Economic Interest	Total
Comparable EBITDA	51	45	96	50	36	86
Interest expense	(9)	—	(9)	(10)	—	(10)
Sustaining capital expenditures	(6)	—	(6)	(5)	(2)	(7)
Current income tax expense	—	(1)	(1)	—	(2)	(2)
Tax equity distributions	—	(4)	(4)	—	(1)	(1)
Distributions paid to subsidiaries' non- controlling interest	(1)	—	(1)	—	—	—
Realized foreign exchange loss	—	—	—	(2)	—	(2)
Provisions	3	—	3	—	—	—
Currency adjustment, reserves, interest income and other	—	(2)	(2)	2	3	5
AFFO	38	38	76	35	34	69


9 Months Ended Sept. 30 ($CAD millions)	2020			2019
	Owned Assets	Economic Interest	Total	Owned Assets	Economic Interest	Total
Comparable EBITDA	182	147	329	195	118	313
Interest expense	(29)	—	(29)	(30)	—	(30)
Sustaining capital expenditures	(12)	(3)	(15)	(22)	(5)	(27)
Current income tax expense	(1)	(8)	(9)	(1)	(6)	(7)
Tax equity distributions	—	(16)	(16)	—	(4)	(4)
Distributions paid to subsidiaries' non- controlling interest	(4)	—	(4)	(4)	—	(4)
Realized foreign exchange loss	(3)	—	(3)	(4)	—	(4)
Provisions	4	—	4	—	—	—
Insurance recovery	—	—	—	(4)	—	(4)
Currency adjustment, reserves, interest income and other	4	—	4	6	4	10
AFFO	141	120	261	136	107	243
A complete copy of TransAlta Renewables' third quarter report, including MD&A and unaudited financial statements, is available through TransAlta Renewables' website at www.transaltarenewables.com or at SEDAR at www.sedar.com.
Notes
(1) Comparable EBITDA refers to earnings before interest, taxes, depreciation and amortization including finance lease income and adjusted for certain other items. AFFO includes the deduction of sustaining capital expenditures and distributions to non-controlling interests and excludes the effects of timing and working capital on distributions from subsidiaries of TransAlta in which the Company holds an economic interest. CAFD refers to adjusted funds from operations less principal repayments of amortizing debt. These items are not defined under International Financial Reporting Standards ("IFRS"). Presenting these items from period to period provides management and investors with the ability to evaluate earnings and cash flow trends more readily in comparison with prior periods' results and may not be comparable to similar measures presented by other issuers and should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS. Refer to the Non-IFRS Measures and Reconciliation of Non-IFRS Measures sections of the MD&A for further discussion of these items, including, where applicable, reconciliations to measures calculated in accordance with IFRS.

(2) Includes production from Canadian Wind, Canadian Hydro and US Wind and Solar and excludes Canadian and Australian gas-fired generation. Production is not a key revenue driver for gas-fired facilities as most of their revenues are capacity-based.

(3) Includes DRIP payments.
About TransAlta Renewables Inc.
TransAlta Renewables is among the largest of any publicly traded renewable independent power producers ("IPP") in Canada. Our asset platform and economic interests are diversified in terms of geography, generation and counterparties and consist of interests in 23 wind facilities, 13 hydroelectric facilities, seven natural gas generation facilities, one solar facility, one natural gas pipeline, and one battery storage project, representing an ownership interest of 2,537 megawatts of owned generating capacity, located in the provinces of British Columbia, Alberta, Ontario, Québec, New Brunswick, the States of Pennsylvania, New Hampshire, Wyoming, Massachusetts, Minnesota and the State of Western Australia. Our objectives are to (i) provide stable, consistent returns for investors through the ownership of, and investment in, highly contracted renewable and natural gas power generation and other infrastructure assets that provide stable cash flow primarily through long-term contracts with strong counterparties; (ii) pursue and capitalize on strategic growth opportunities in the renewable and natural gas power generation and other infrastructure sectors; (iii) maintain diversity in terms of geography, generation and counterparties; and (iv) pay out 80 to 85 per cent of cash available for distribution to the shareholders of the Company on an annual basis.
Cautionary Statement Regarding Forward-Looking Information
This news release contains forward looking statements, including statements regarding the business and anticipated financial performance of the Company that are based on the Company's current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. In some cases, forward-looking statements can be identified by terminology such as "plans", "expects", "proposed", "will", "anticipates", "develop", "continue", and similar expressions suggesting future events or future performance. In particular, this news release contains forward-looking statements, pertaining to, without limitation, the following: the potential impact of COVID-19 on the Company, and the actions to be undertaken by the Company or TransAlta in response to the COVID-19 pandemic; the electricity and steam that is being provided by the Company continuing to be an essential service in the jurisdictions in which we operate; the Company being positioned to capitalize on future growth opportunities; and the Company continuing to have access to liquidity. Forward-looking statements are subject to a number of significant risks, uncertainties and assumptions that could cause actual plans, performance, results or outcomes to differ materially from current expectations. Factors that may adversely impact what is expressed or implied by forward-looking statements contained in this news release include risks relating to the impact of COVID-19 and the associated general economic downturn, the impact of which will largely depend on the overall severity and duration of COVID-19 and the general economic downturn, which cannot currently be predicted, and which present risks including, but not limited to: more restrictive directives of government and public health authorities; reduced labour availability impacting our ability to continue to staff the Company's operations and facilities; impacts on the Company's ability to realize its growth goals, including acquiring assets from TransAlta; decreases in short-term and/or long-term electricity demand; increased costs resulting from the Company's efforts to mitigate the impact of COVID-19; deterioration of worldwide credit and financial markets that could limit the Company's ability to obtain external financing to fund its operations and growth expenditures; a higher rate of losses on accounts receivables due to credit defaults; further disruptions to the Company's supply chain; impairments and/or write-downs of assets; and adverse impacts on the Company's information technology systems and the Company's internal control systems, including increased cybersecurity threats. Other factors that may adversely impact the Company's forward-looking statements include, but are not limited to, risks relating to: operational risks involving the Company's facilities, including unplanned outages at such facilities; disruptions in the transmission and distribution of electricity; the effects of weather and other climate-related risks; disruptions in the source of water, wind, solar or gas resources required to operate our facilities; natural disasters; equipment failure and our ability to carry out repairs in a cost-effective or timely manner; and industry risks and competition. The foregoing risk factors, among others, are described in further detail in the Company's Management's Discussion and Analysis and Annual Information Form for the year ended December 31, 2019, which are available on SEDAR at www.sedar.com. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect the Company's expectations only as of the date of this news release. The Company disclaims any intention or obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Note: All financial figures are in Canadian dollars unless noted otherwise.
View original content:http://www.prnewswire.com/news-releases/transalta-renewables-reports-third-quarter-2020-results-301163600.html
SOURCE TransAlta Renewables Inc

Article Date
10/30/2020
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10/29/2020 - TransAlta Renewables Declares Dividends
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TransAlta Renewables Declares Dividends
Source: PR Newswire
CALGARY, AB, Oct. 29, 2020 /PRNewswire/ - The Board of Directors of TransAlta Renewables Inc. (TSX: RNW) today declared the following monthly dividends:
Dividend Per Share	Record Date	Payment Date
$0.07833	January 15, 2021	January 29, 2021
$0.07833	February 15, 2021	February 26, 2021
$0.07833	March 15, 2021	March 31, 2021
About TransAlta Renewables Inc.
TransAlta Renewables is among the largest of any publicly traded renewable independent power producers ("IPP") in Canada. Our asset platform and economic interests are diversified in terms of geography, generation and counterparties and consist of interests in 23 wind facilities, 13 hydroelectric facilities, seven natural gas generation facilities, one solar facility, one natural gas pipeline, and one battery storage project, representing an ownership interest of 2,537 megawatts of owned generating capacity, located in the provinces of British Columbia, Alberta, Ontario, Québec, New Brunswick, the States of Wyoming, Massachusetts, Minnesota and the State of Western Australia. Our objectives are to (i) provide stable, consistent returns for investors through the ownership of, and investment in, highly contracted renewable and natural gas power generation and other infrastructure assets that provide stable cash flow primarily through long-term contracts with strong counterparties; (ii) pursue and capitalize on strategic growth opportunities in the renewable and natural gas power generation and other infrastructure sectors; (iii) maintain diversity in terms of geography, generation and counterparties; and (iv) pay out 80 to 85 per cent of cash available for distribution to the shareholders of the Company on an annual basis.
Note: All financial figures are in Canadian dollars unless noted otherwise.
View original content:http://www.prnewswire.com/news-releases/transalta-renewables-declares-dividends-301163504.html
SOURCE TransAlta Renewables Inc

Article Date
10/29/2020
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10/23/2020 - TransAlta Renewables Executes 15-year Contract Extension in Western Australia with BHP Nickel West
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TransAlta Renewables Executes 15-year Contract Extension in Western Australia with BHP Nickel West
Source: PR Newswire
CALGARY, AB, Oct. 22, 2020 /PRNewswire/ - TransAlta Renewables Inc. ("TransAlta Renewables" or the "Company") (TSX: RNW) announced today that Southern Cross Energy ("SCE") has amended and extended its current power purchase agreement ("PPA") with BHP Billiton Nickel West Pty Ltd ("BHP") in respect of SCE's 245 MW of generation facilities in the Goldfields region of Western Australia. The amendment to the PPA replaces the previous contract that was scheduled to expire December 31, 2023. The Company owns an indirect economic interest in SCE.  
"This is an exciting announcement for our Australian business and continues a strong relationship with our customer BHP Nickel West," said John Kousinioris, President and Chief Executive Officer of TransAlta Renewables. "Western Australia is an important market for us, where we have been operating for over 24 years."
The PPA amendment extends the term to December 31, 2038 and provides SCE with the exclusive right to supply electrical energy to BHP's mining operations located in the Goldfields region of Western Australia. The amendment preserves SCE's current economic benefit to 2023, while also providing SCE a return of and on new capital investments which will be required to support BHP's future power requirements and recently announced emission reduction targets. The PPA provides BHP with the ability to integrate renewable electricity generation, including solar and wind, with energy storage technologies, to meet its emissions reduction targets and deliver lower carbon, sustainable nickel to its customers. The amended PPA also provides BHP participation rights in new capital investments, subject to the satisfaction of certain conditions.    
The evaluation of renewable energy supply and carbon emissions reduction initiatives under the extended PPA with SCE are already under way, including an 18.5 MW solar photovoltaic farm at Nickel West's Leinster and Mount Keith operations, supported by a battery energy storage system. A 17 MW waste heat steam turbine system at the Kalgoorlie Smelter is also being evaluated to provide low-emissions electricity from furnace heat recovery. 
About TransAlta Renewables Inc.
TransAlta Renewables is among the largest of any publicly traded renewable independent power producers ("IPP") in Canada. Our asset platform and economic interests are diversified in terms of geography, generation and counterparties and consist of interests in 23 wind facilities, 13 hydroelectric facilities, seven natural gas generation facilities, one solar facility, one natural gas pipeline, and one battery storage project, representing an ownership interest of 2,537 megawatts of owned generating capacity, located in the provinces of British Columbia, Alberta, Ontario, Québec, New Brunswick, the States of Wyoming, Massachusetts, Minnesota and the State of Western Australia. Our objectives are to (i) provide stable, consistent returns for investors through the ownership of, and investment in, highly contracted renewable and natural gas power generation and other infrastructure assets that provide stable cash flow primarily through long-term contracts with strong counterparties; (ii) pursue and capitalize on strategic growth opportunities in the renewable and natural gas power generation and other infrastructure sectors; (iii) maintain diversity in terms of geography, generation and counterparties; and (iv) pay out 80 to 85 per cent of cash available for distribution to the shareholders of the Company on an annual basis.
Cautionary Statement Regarding Forward Looking Information
This news release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "project", "should", "propose", "plans", "intends" and similar expressions are intended to identify forward looking information or statements. More particularly, and without limitation, this news release contains forward looking statements and information relating execution of the and the potential benefits of the contract renewal; the integration of renewable electricity generation, including the 18.5 MW solar photovoltaic farm at Nickel West's Leinster and Mount Keith operations, and a 17 MW waste heat steam turbine system at the Kalgoorlie Smelter. These forward looking statements are based on a number of assumptions considered by the Company to be reasonable as of the date of this news release, including, but not limited to, the following: no significant changes to applicable laws and regulations, including any tax and regulatory changes; no significant changes to our relationship with BHP; and assumptions regarding our current strategy and priorities, including as it pertains to behind-the-fence investment in Western Australia. The forward looking statements are subject to a number of risks and uncertainties that may cause actual performance, events or results to differ materially from those contemplated by the forward looking statements, which include: disruptions to natural gas fuel source, changes in economic and market conditions; changes in tax, environmental, regulatory and other laws and regulations; and other risks and uncertainties discussed in the Company's materials filed with the Canadian securities regulatory authorities from time to time and as also set forth in the Company's Annual Information Form and Management's Discussion and Analysis for the year ended December 31, 2019, filed under the Company's profile with the Canadian securities regulators on www.sedar.com. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release. The Company undertakes no obligation to update or revise any forward looking information except as required by law.
Note: Unless otherwise noted, all financial figures are in Canadian dollars.
View original content:http://www.prnewswire.com/news-releases/transalta-renewables-executes-15-year-contract-extension-in-western-australia-with-bhp-nickel-west-301158466.html
SOURCE TransAlta Renewables Inc

Article Date
10/23/2020
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10/15/2020 - TransAlta Renewables Announces Commercial Operation of WindCharger, Alberta's First Utility Scale Battery Storage Project
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TransAlta Renewables Announces Commercial Operation of WindCharger, Alberta's First Utility Scale Battery Storage Project
Source: PR Newswire
CALGARY, AB, Oct. 15, 2020 /PRNewswire/ - TransAlta Renewables Inc. ("TransAlta Renewables" or the "Company") (TSX: RNW) announced that its 10 MW WindCharger battery storage project ("WindCharger") began commercial operation on October 15, 2020. WindCharger is Alberta's first utility-scale, lithium-ion energy storage project and utilizes Tesla Megapack technology. It has a nameplate capacity of 10MW and total storage capacity of 20MWh. This technology can be fully charged in approximately two hours and will be powered by the Company's Summerview II wind farm, making it a truly renewable battery energy storage system. WindCharger did not require any new infrastructure investments as it is an entirely behind-the-fence project.
The project, which was acquired from TransAlta Corporation ("TransAlta") in August of this year, has a total capital cost of approximately $14.5 million, with approximately 50 percent being funded through the support of Emissions Reduction Alberta. As part of the acquisition, TransAlta will pay a fixed monthly capacity charge for the right to operate and dispatch the battery in the Alberta market.
"We want to thank Tesla for working with us on this exciting project. The completion of the WindCharger project is an important milestone as we progress towards our goal of providing clean, reliable and low-cost energy solutions to our customers," said John Kousinioris, President. "This technology shows strong commercial potential and this particular installation has enough capacity to power all the homes in nearby Pincher Creek for approximately 90 minutes on only one charge."
About TransAlta Renewables Inc.
TransAlta Renewables is among the largest of any publicly traded renewable independent power producers ("IPP") in Canada. Our asset platform and economic interests are diversified in terms of geography, generation and counterparties and consist of interests in 23 wind facilities, 13 hydroelectric facilities, seven natural gas generation facilities, one solar facility, one natural gas pipeline, and one battery storage project, representing an ownership interest of 2,537 megawatts of owned generating capacity, located in the provinces of British Columbia, Alberta, Ontario, Québec, New Brunswick, the States of Wyoming, Massachusetts, Minnesota and the State of Western Australia. Our objectives are to (i) provide stable, consistent returns for investors through the ownership of, and investment in, highly contracted renewable and natural gas power generation and other infrastructure assets that provide stable cash flow primarily through long-term contracts with strong counterparties; (ii) pursue and capitalize on strategic growth opportunities in the renewable and natural gas power generation and other infrastructure sectors; (iii) maintain diversity in terms of geography, generation and counterparties; and (iv) pay out 80 to 85 per cent of cash available for distribution to the shareholders of the Company on an annual basis.
Cautionary Statement Regarding Forward Looking Information
This news release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "project", "should", "propose", "plans", "intends" and similar expressions are intended to identify forward looking information or statements. More particularly, and without limitation, this news release contains forward looking statements and information relating to the time to charge the battery storage system; the receipt of approximately 50 percent of capital costs being funded through the support of Emissions Reduction Alberta; and the battery storage project has enough capacity to power all the homes in Pincher Creek for approximately 90 minutes on only one charge. These forward looking statements are based on a number of assumptions considered by the Company to be reasonable as of the date of this news release, including, but not limited to, the following: no significant changes to applicable laws and regulations; and assumptions regarding our current strategy and priorities. The forward looking statements are subject to a number of risks and uncertainties that may cause actual performance, events or results to differ materially from those contemplated by the forward looking statements, which include: competitive factors in the renewable power industry; technology risks; changes in economic and market conditions; changes in laws and regulations; and other risks and uncertainties discussed in the Company's Annual Information Form and Management's Discussion and Analysis , filed under the Company's profile with the Canadian securities regulators on www.sedar.com. Readers are cautioned not to place undue reliance on this forward looking information, which is given as of the date it is expressed in this news release. The Company undertakes no obligation to update or revise any forward looking information except as required by law.
View original content:http://www.prnewswire.com/news-releases/transalta-renewables-announces-commercial-operation-of-windcharger-albertas-first-utility-scale-battery-storage-project-301153678.html
SOURCE TransAlta Renewables Inc

Article Date
10/15/2020
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10/8/2020 - TransAlta Renewables Announces Pricing of AUD$800 Million Secured Financing of South Hedland Combined Cycle Gas Assets
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TransAlta Renewables Announces Pricing of AUD$800 Million Secured Financing of South Hedland Combined Cycle Gas Assets
Source: PR Newswire
CALGARY, AB, Oct. 8, 2020 /PRNewswire/ - TransAlta Renewables Inc. ("TransAlta Renewables" or the "Company") (TSX: RNW) today announced that TEC Hedland Pty Ltd. (the "Issuer"), has priced an approximately AUD$800 million senior secured note offering, by way of a private placement, which will be secured by, among other things, a first ranking charge over all assets of the Issuer (the "Financing"). TransAlta Renewables owns an indirect economic interest in the Issuer, which provides the Company with the economic benefit of the Financing.
The senior secured notes ("the Notes") are amortizing and will bear interest from their date of issue at a rate of 4.07% per annum, payable quarterly and mature on June 30, 2042. The Notes have a preliminary rating of BBB, with a Stable trend, by Kroll Bond Rating Agency.
Closing of the Financing is expected to occur on or around October 22, 2020.
The Issuer's assets consist of the 150 MW combined cycle gas power station located in Western Australia. The South Hedland power station achieved commercial operation in July 2017 and supplies power to Horizon Power, the state energy utility in the region.    
The Issuer will use the net proceeds of the Financing to fund various debt service, maintenance and other collateral security reserves, to repay outstanding indebtedness of the Issuer to other Company affiliates, to pay expenses associated with the Financing, to fund one or more intercompany loans to its affiliates and for other corporate purposes. The Company will receive a portion of the proceeds from the repayment of the Issuer's intercompany loans and will use those proceeds to repay drawn amounts under the Company's credit facility, for general corporate purposes and to fund planned growth initiatives.
The Notes have been offered only in a private placement to institutional accredited investors in reliance on Section 4(a)(2) under the Securities Act and to certain non-U.S. Persons in transactions outside the United States in reliance of Regulation S under the Securities Act. The Notes have not been registered under the Securities Act, or any state securities laws, and the Issuer has no obligation to register any future re-offer or re-sale of the Notes under the Securities Act or the securities laws of any other jurisdiction. The Notes may not be offered or sold in the United States except pursuant to an effective registration statement or an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. 
The Notes have not been and will not be qualified for distribution to the public under applicable Canadian securities laws and, accordingly, any offer and sale of the securities in Canada will be made on a basis which is exempt from the prospectus and dealer registration requirements of such securities laws. The Notes have been offered in Canada on a private placement basis only to "accredited investors".
This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes. This press release also does not constitute an offer to sell or the solicitation of an offer to buy the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction, or an exemption is available from such registration or qualification.  
About TransAlta Renewables Inc.
TransAlta Renewables is among the largest of any publicly traded renewable independent power producers ("IPP") in Canada. Our asset platform and economic interests are diversified in terms of geography, generation and counterparties and consist of interests in 23 wind facilities, 13 hydroelectric facilities, seven natural gas generation facilities, one solar facility, one natural gas pipeline, and one battery storage project, representing an ownership interest of 2,537 megawatts of owned generating capacity, located in the provinces of British Columbia, Alberta, Ontario, Québec, New Brunswick, the States of Wyoming, Massachusetts, Minnesota and the State of Western Australia. Our objectives are to (i) provide stable, consistent returns for investors through the ownership of, and investment in, highly contracted renewable and natural gas power generation and other infrastructure assets that provide stable cash flow primarily through long-term contracts with strong counterparties; (ii) pursue and capitalize on strategic growth opportunities in the renewable and natural gas power generation and other infrastructure sectors; (iii) maintain diversity in terms of geography, generation and counterparties; and (iv) pay out 80 to 85 per cent of cash available for distribution to the shareholders of the Company on an annual basis.
Cautionary Statement Regarding Forward Looking Information 
This News Release includes "forward-looking information", within the meaning of applicable Canadian securities laws, and "forward-looking statements", within the meaning of applicable United States securities laws, including the United States Private Securities Litigation Reform Act of 1995 (collectively referred to herein as "forward-looking statements"). In particular, this News Release contains forward-looking statements including, but not limited to, statements relating to: the Financing, including that the gross proceeds will be approximately AUD$800 million; the terms of the Notes, including that they will bear interest at a rate of 4.07% per annum, payable quarterly and maturing on June 30, 2042; that the Financing will close on or around October 22, 2020; and the anticipated use of proceeds.  The material factors and assumptions used in the preparation of the forward-looking statements contained herein, which may prove to be incorrect, include, but are not limited to, assumptions pertaining to interest and foreign exchange rates; investment values; hedging activities; global equity and capital markets (including continued access to equity and debt markets); industry sector and the Company's and Issuer's financial conditions (including developments and volatility arising from the current pandemic health event resulting from the novel coronavirus (COVID-19); business competition and other general economic, political and market factors in North America, Australia and internationally. Factors that may adversely impact what is expressed or implied by forward-looking statements contained in this News Release include, but are not limited to, risks relating to the Issuer's ability to satisfy the conditions of closing the Financing, including obtaining any required consents and documents and the need to negotiate and execute the Financing documents; the need for continued cooperation of the initial purchasers; the need to successfully market the offering; global economic climate and market volatility, including due to the COVID-19 pandemic; operational risks at the South Hedland power station; litigation risks; currency fluctuations and other risk factors contained in the Company's Annual Information Form and Management's Discussion and Analysis for the year end dated December 31, 2019. Readers are cautioned not to place undue reliance on the forward-looking statements, which reflect the Company's expectations only as of the date hereof.  TransAlta disclaims any intention or obligation to publicly update these forward-looking statements to reflect new information, future events or otherwise, except as required by applicable laws.
View original content:http://www.prnewswire.com/news-releases/transalta-renewables-announces-pricing-of-aud800-million-secured-financing-of-south-hedland-combined-cycle-gas-assets-301149064.html
SOURCE TransAlta Renewables Inc

Article Date
10/8/2020
Close
10/19/2018 - TransAlta Renewables' New Brunswick wind power expansion complete
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TransAlta Renewables' New Brunswick wind power expansion complete
Source: PR Newswire
Supports New Brunswick Power's provincial energy strategy
CALGARY, Oct. 19, 2018 /PRNewswire/ - The 17.25MW expansion of the TransAlta Renewables Inc. ("TransAlta Renewables" or the "Company") (TSX: RNW) wind facility at Kent Hills, in New Brunswick is now fully operational, bringing total generating capacity to 167 MW.
Under the 17-year power purchase agreement, New Brunswick Power receives both energy to the province's electricity grid and renewable energy credits. 
"Our partnership with New Brunswick Power reflects our commitment to customize every project to meet the unique needs of our customers," said TransAlta Renewables President John Kousinioris. "We value the close collaboration with our customer and with our stakeholders, which was the cornerstone of our first Kent Hills wind project in 2008 and remains with this expansion to the original wind facility."
"The additional renewable capacity of Kent Hills 3 achieves the production targets and is great news for the environment. It will also give NB Power the potential to facilitate other business development opportunities in the green energy export sector," said Gaëtan Thomas, CEO, New Brunswick Power.
TransAlta Renewables' engagement with project stakeholders and indigenous communities is a great example of working together to bring important new infrastructure to a modern grid.
As part of the development and regulatory approval process, TransAlta Renewables worked with the government, neighbouring Indigenous communities, Mi'gmawe'l Tplu'taqnn Inc. and Fort Folly First Nation, and local stakeholder groups such as the Snowmobilers Association.
The Kent Hills 3 expansion is located on approximately 20 acres of Crown Land and consists of five Vestas V126 turbines. Kent Hills is located about 55km southwest of Moncton, in the southeastern section of Elgin Parish in Albert County, N.B. Natural Forces Technologies Inc., a wind-energy developer based in Atlantic Canada, co-developed and co-owns the wind farm with TransAlta Renewables.
Construction began in April 2018, achieving completion in under six months.
About TransAlta Renewables Inc.
TransAlta Renewables is among the largest of any publicly traded renewable independent power producers ("IPP") in Canada. Our asset platform and economic interests are diversified in terms of geography, generation and counterparties and consist of interests in 21 wind facilities, 13 hydroelectric facilities, seven natural gas generation facilities, one solar facility and one natural gas pipeline, representing an ownership interest of 2,421 MW of owned generating capacity, located in the provinces of British Columbia, Alberta, Ontario, Québec, New Brunswick, the States of Wyoming, Massachusetts, Minnesota and the State of Western Australia. Our objectives are to (i) provide stable, consistent returns for investors through the ownership of, and investment in, highly contracted renewable and natural gas power generation and other infrastructure assets that provide stable cash flow primarily through long-term contracts with strong counterparties; (ii) pursue and capitalize on strategic growth opportunities in the renewable and natural gas power generation and other infrastructure sectors; (iii) maintain diversity in terms of geography, generation and counterparties; and (iv) pay out 80 to 85 per cent of cash available for distribution to the shareholders of the Company on an annual basis.
Forward-Looking Statements
This news release contains forward-looking statements about TransAlta Renewables' objectives, plans, goals, intentions, strategies, prospects and opportunities. Forward-looking statements in this news release include statements relating to the Company's ability to achieve the production targets for Kent Hills.  These statements are subject to a number of risks and uncertainties that could cause actual plans, actions and results to differ materially from current expectations including, but not limited to, changes in tax, regulatory, environmental, and other laws and regulations; operational breakdowns, failures, or other disruption; changes in economic and market conditions, and other risks and uncertainties discussed in the Company's materials filed with the Canadian securities regulatory authorities from time to time.  Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect TransAlta Renewables' expectations only as of the date of this news release. TransAlta Renewables disclaim any intention or obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
View original content:http://www.prnewswire.com/news-releases/transalta-renewables-new-brunswick-wind-power-expansion-complete-300734319.html
SOURCE TransAlta Renewables Inc

Article Date
10/19/2018
Close
10/15/2018 - TransAlta Renewables, with Microsoft, adds 90MW of new wind generation in Pennsylvania
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TransAlta Renewables, with Microsoft, adds 90MW of new wind generation in Pennsylvania
Source: PR Newswire
Partnership highlights value of collaboration and customization
CALGARY, Oct. 15, 2018 /PRNewswire/ - TransAlta Renewables Inc. ("TransAlta Renewables" or the "Company") (TSX: RNW) announced today that Microsoft Corp. is its customer pursuant to a 15-year power purchase arrangement signed earlier this year for the 90-megawatt (MW) Big Level wind facility now under construction in Hector Township, Pennsylvania.
"This project advances our North American growth and investment strategy," said TransAlta Renewables President John Kousinioris. "Microsoft is a leader in procurement of renewable energy and a catalyst for change in how corporate customers can control their energy procurement. We're pleased to collaborate with them on a project that suits their needs and helps them to achieve their sustainability and carbon reduction objectives."
The Big Level wind facility is the third power purchase arrangement Microsoft has signed in the PJM Interconnection. With this Big Level project, Microsoft's total renewable energy portfolio will rise to more than 1.2 gigawatts, covering six states and three continents.
"Working with companies like TransAlta to bring new projects online, especially wind projects in states outside the Wind Belt, is good for our business, the community and the clean energy economy," said Brian Janous, General Manager of Energy and Sustainability at Microsoft. "We're pleased to enter a new state in the PJM region and take another step toward our goal of enabling a clean energy future for everyone."
"We are thrilled that TransAlta Renewables and Microsoft have decided to invest in Pennsylvania," said Department of Community and Economic Development Secretary Dennis Davin. "This project will further Pennsylvania's role as a leader in renewable energy, while supporting the development of a cleaner and more diverse energy economy."
The Big Level wind facility will bring direct investment, jobs, landowner lease payments, tax benefits, and clean energy to Hector Township, Pennsylvania. At the peak of construction, there will be approximately 100 full-time equivalent jobs, and over the life of the project, the communities will receive more than $8 million in tax benefits and community payments. 
Construction at Big Level is underway.
Geographic and asset diversification, backstopped by long-term contracted cash flows, are cornerstones of TransAlta Renewables' growth strategy. TransAlta Renewables' facilities include wind and solar in Wyoming, Minnesota, and Massachusetts. TransAlta Corporation, which owns 61 percent of TransAlta Renewables, is also one of Canada's largest wind generators and Alberta's largest hydro operator, with a total of 8000MW of owned generation capacity including 48 renewable generation facilities in 10 operating regions in North America.

TransAlta Renewables has consulted extensively with the Pennsylvania Game Commission and the U.S. Fish and Wildlife Service to minimize the impact the Big Level wind facility could have on birds and bats. Extensive on-site studies were performed with agency input, and wildlife impacts are expected to be minimal. The project is fully permitted through the Pennsylvania Department of Environmental Protection and Potter County Conservation District.
Commercial operation for the Big Level wind facility is expected to begin in the second half of 2019. All regulatory approvals have been completed.
About TransAlta Renewables Inc.
TransAlta Renewables is among the largest of any publicly traded renewable independent power producers ("IPP") in Canada. Our asset platform and economic interests are diversified in terms of geography, generation and counterparties and consist of interests in 20 wind facilities, 13 hydroelectric facilities, seven natural gas generation facilities, one solar facility and one natural gas pipeline, representing an ownership interest of 2,407 MW of owned generating capacity, located in the provinces of British Columbia, Alberta, Ontario, Québec, New Brunswick, the States of Wyoming, Massachusetts, Minnesota and the State of Western Australia. Our objectives are to (i) provide stable, consistent returns for investors through the ownership of, and investment in, highly contracted renewable and natural gas power generation and other infrastructure assets that provide stable cash flow primarily through long-term contracts with strong counterparties; (ii) pursue and capitalize on strategic growth opportunities in the renewable and natural gas power generation and other infrastructure sectors; (iii) maintain diversity in terms of geography, generation and counterparties; and (iv) pay out 80 to 85 per cent of cash available for distribution to the shareholders of the Company on an annual basis.
Forward-Looking Statements
This news release contains forward-looking statements about TransAlta Renewables' objectives, plans, goals, intentions, strategies, prospects and opportunities. Forward-looking statements in this news release include statements relating to the construction of the Big Level wind facility and the timing thereof; the capacity of the Big Level wind facility; the commercial operation for the Big Level wind facility; the benefits expected to be derived from the Big Level wind facility, including as it pertains to direct investment, jobs, landowner lease payments, tax benefits, and clean energy; the amount of any tax benefits and community payments associated with the Big Level wind facility; and the extent of any wildlife impacts.  These statements are subject to a number of risks and uncertainties that could cause actual plans, actions and results to differ materially from current expectations including, but not limited to, the Company's ability to secure tax equity or other financing for the Big Level wind facility; changes in tax, regulatory, environmental, and other laws and regulations; competitive factors in the renewable power industry; operational breakdowns, failures, or other disruption relating to construction or otherwise; changes in economic and market conditions, and other risks and uncertainties discussed in the Company's materials filed with the Canadian securities regulatory authorities from time to time.  Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect TransAlta Renewables' expectations only as of the date of this news release. TransAlta Renewables disclaim any intention or obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
View original content:http://www.prnewswire.com/news-releases/transalta-renewables-with-microsoft-adds-90mw-of-new-wind-generation-in-pennsylvania-300730985.html
SOURCE TransAlta Renewables Inc

Article Date
10/15/2018
Close
5/31/2018 - TransAlta Renewables Announces the Acquisition of Three Renewable Assets from TransAlta Corporation, Implementation of a Dividend Reinvestment Plan and Declares Dividends
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TransAlta Renewables Announces the Acquisition of Three Renewable Assets from TransAlta Corporation, Implementation of a Dividend Reinvestment Plan and Declares Dividends
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CALGARY, May 31, 2018 /PRNewswire/ - TransAlta Renewables Inc. ("TransAlta Renewables" or the "Company") (TSX: RNW) and TransAlta Corporation (TSX: TA; NYSE: TAC) today announced that TransAlta Renewables has acquired an economic interest in the 50 MW Lakeswind Wind Farm in Minnesota and 21 MW of solar projects located in Massachusetts, from TransAlta Corporation. In addition, TransAlta Renewables acquired ownership of the 20 MW Kent Breeze Wind Farm located in Ontario. The total purchase price for the three assets, which have an average weighted contract life of 15 years, is $166 million, including the assumption of $62 million of tax equity obligations and project debt. The equity value of $104 million represents a 10x multiple of CAFD and is expected to be accretive on a per share basis. TransAlta Renewables will fund the equity value portion of the acquisition using existing liquidity.
"The acquired assets are a natural fit for TransAlta Renewables which focuses on diversified, highly contracted cash flows from strong counterparties," said John Kousinioris, President of TransAlta Renewables. "These drop-downs, along with the two recent U.S. wind projects, demonstrate our ability to execute on accretive, renewable acquisitions."
Concurrent with the acquisition, the Board of Directors of TransAlta Renewables has approved the implementation of a dividend reinvestment plan ("DRIP") for Canadian holders of common shares of TransAlta Renewables. Commencing with the dividend payable on July 31, 2018, to shareholders of record at the close of business on July 13, 2018, eligible shareholders may elect to automatically reinvest monthly dividends into additional common shares of TransAlta Renewables.
The price for common shares purchased under the DRIP will be 98 per cent of the average market price of the common shares for the five trading days on which not less than 500 common shares of the Company are traded immediately prior to the dividend payment date. Common shares acquired under the DRIP will be issued from the treasury of TransAlta Renewables.
Eligible shareholders are not required to participate in the DRIP. Those shareholders who have not elected to participate in the DRIP will continue to receive their monthly cash dividends in the usual manner. TransAlta Corporation, which holds 64 per cent of the outstanding shares of TransAlta Renewables, does not intend to participate in the DRIP.
This news release provides a summary of some of the terms of the DRIP. The DRIP defines the terms and conditions of the DRIP and the rights of eligible participants in the DRIP. Interested shareholders are encouraged to review the full text of the DRIP. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities.
A complete copy of the DRIP, together with a related series of Questions and Answers, are available on TransAlta Renewables website at www.transaltarenewables.com or can be obtained by calling AST Trust Company, TransAlta Renewables transfer agent at: 1-800-387-0825.
In addition, the Company also declared monthly dividends of $0.07833 per share for holders of record on July 13, 2018, August 15, 2018 and September 14, 2018 payable on each of July 31, 2018, August 31, 2018 and September 28, 2018, respectively.
About TransAlta Renewables Inc.
TransAlta Renewables is among the largest of any publicly traded renewable independent power producers ("IPP") in Canada. Our asset platform and economic interests are diversified in terms of geography, generation and counterparties and consist of interests in 20 wind facilities, 13 hydroelectric facilities, seven natural gas generation facilities, one solar facility and one natural gas pipeline, representing an ownership interest of 2,407 MW of owned generating capacity, located in the provinces of British Columbia, Alberta, Ontario, Québec, New Brunswick, the State of Wyoming, the State of Massachusetts, the State of Minnesota and the State of Western Australia. Our objectives are to (i) provide stable, consistent returns for investors through the ownership of, and investment in, highly contracted renewable and natural gas power generation and other infrastructure assets that provide stable cash flow primarily through long-term contracts with strong counterparties; (ii) pursue and capitalize on strategic growth opportunities in the renewable and natural gas power generation and other infrastructure sectors; (iii) maintain diversity in terms of geography, generation and counterparties; and (iv) pay out 80 to 85 per cent of cash available for distribution to the shareholders of the Company on an annual basis.
About TransAlta Corporation:
TransAlta owns, operates and develops a diverse fleet of electrical power generation assets in Canada, the United States and Australia with a focus on long-term shareholder value. We provide municipalities, medium and large industries, businesses and utility customers clean, affordable, energy efficient, and reliable power. Today, we are one of Canada's largest producers of wind power and Alberta's largest producer of hydro-electric power. For over 100 years, TransAlta has been a responsible operator and a proud community-member where its employees work and live. TransAlta aligns its corporate goals with the UN Sustainable Development Goals and we have been recognized by CDP (formerly Climate Disclosure Project) as an industry leader on Climate Change Management. We are also proud to have achieved the Silver level PAR (Progressive Aboriginal Relations) designation by the Canadian Council for Aboriginal Business. For more information about TransAlta, visit our web site at transalta.com.
Forward-Looking Statements
This news release contains forward looking statements, including statements regarding the business and anticipated financial performance of the Company and TransAlta Corporation that are based on the Company's and TransAlta Corporation's current expectations, estimates, projections and assumptions in light of their experience and perception of historical trends. In some cases, forward-looking statements can be identified by terminology such as "plans", "expects", "proposed", "will", "anticipates", "develop", "continue", and similar expressions suggesting future events or future performance. In particular, this news release contains forward-looking statements, including certain financial outlooks, pertaining to, without limitation, the following: the anticipated benefits to the Company following its acquisition of an interest in the three renewable projects, including that the acquisition will be accretive to cash available for distribution per share; the acquisition of the previously announced U.S. wind project; the source of funding for the purchase price; and the intention of TransAlta Corporation not to participate in the DRIP. These statements are subject to a number of risks and uncertainties that could cause actual plans, actions and results to differ materially from current expectations including, but not limited to, the Company's ability to satisfy the closing conditions for the acquisition of the one U.S. wind project; changes in tax, regulatory, environmental, and other laws and regulations; competitive factors in the renewable power industry; operational breakdowns, failures, or other disruption; changes in economic and market conditions, and other risks and uncertainties discussed in the Company's and TransAlta Corporation's materials filed with the Canadian securities regulatory authorities from time to time. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect the Company's and TransAlta Corporation's expectations only as of the date of this news release. TransAlta Renewables and TransAlta Corporation disclaim any intention or obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. 
Note: CAFD refers to cash available for distribution and is not defined under International Financial Reporting Standards ("IFRS"). Refer to the Non-IFRS Measures section of the Management's Discussion and Analysis for further discussion of this measure items, including, where applicable, reconciliations to measures calculated in accordance with IFRS. All financial figures are in Canadian dollars unless otherwise indicated.
View original content:http://www.prnewswire.com/news-releases/transalta-renewables-announces-the-acquisition-of-three-renewable-assets-from-transalta-corporation-implementation-of-a-dividend-reinvestment-plan-and-declares-dividends-300657788.html
SOURCE TransAlta Renewables Inc

Article Date
5/31/2018
Close
11/13/2017 - TransAlta and TransAlta Renewables Respond to Notice of Termination for the South Hedland Power Purchase Agreement Received from Fortescue Metals Group
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TransAlta and TransAlta Renewables Respond to Notice of Termination for the South Hedland Power Purchase Agreement Received from Fortescue Metals Group
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CALGARY, Nov. 13, 2017 /PRNewswire/ - TransAlta Corporation ("TransAlta" or the "Company") (TSX: TA, NYSE: TAC) and TransAlta Renewables Inc. ("TransAlta Renewables") (TSX: RNW) announced today that TEC Hedland Pty Ltd, a subsidiary of TransAlta, received formal notice of termination of the South Hedland Power Purchase Agreement ("PPA") from a subsidiary of Fortescue Metals Group Limited ("FMG").  The PPA allows FMG to terminate the agreement if the power station has not reached commercial operation within a specified time period.  FMG continues to be of the view that the South Hedland Power Station has yet to achieve commercial operation.
TransAlta and TransAlta Renewables remain confident that all conditions required to establish commercial operations, including all performance conditions, have been achieved under the terms of the PPA.  These conditions include receiving a commercial operation certificate, successfully completing and passing certain test requirements, and obtaining all permits and approvals required from the North West Interconnected System ("NWIS") and government agencies.  
Confirmation of commercial operation has been provided by independent engineering firms, as well as by Horizon Power, the state-owned utility.  TransAlta and TransAlta Renewables will take all steps necessary to protect their interests in the facility and ensure all cash flows promised under the PPA are realized.
The South Hedland Power Station has been fully operational and able to meet FMG's requirements under the terms of the PPA since July 2017.
The South Hedland Power Station, located in the Pilbara Region of Western Australia, is a 150 MW combined-cycle natural gas power station that is one of the most efficient power plants in Western Australia, providing low cost electricity to its customers and generating low greenhouse gas emissions.
About TransAlta Corporation:
TransAlta is a power generation and wholesale marketing company focused on creating long-term shareholder value. TransAlta maintains a low-to-moderate risk profile by operating a highly contracted portfolio of assets in Canada, the United States and Australia. TransAlta's focus is to efficiently operate wind, hydro, solar, natural gas and coal facilities in order to provide customers with a reliable, low-cost source of power. For over 100 years, TransAlta has been a responsible operator and a proud contributor to the communities in which it works and lives. TransAlta has been recognized on CDP's Canadian Climate Disclosure Leadership Index (CDLI), which includes Canada's top 20 leading companies reporting on climate change, and has been selected by Corporate Knights as one of Canada's Top 50 Best Corporate Citizens and is recognized globally for its leadership on sustainability and corporate responsibility standards by FTSE4Good.
About TransAlta Renewables Inc.:
TransAlta Renewables is among the largest of any publicly traded renewable independent power producers ("IPP") in Canada.  Our asset platform and economic interests are diversified in terms of geography, generation and counterparties and consist of interests in 18 wind facilities, 13 hydroelectric facilities, seven natural gas generation facilities (including South Hedland) and one natural gas pipeline, representing an ownership interest of 2,316 MW of net generating capacity, located in the provinces of British Columbia, Alberta, Ontario, Québec, New Brunswick, the State of Wyoming and the State of Western Australia. Our objectives are to (i) provide stable, consistent returns for investors through the ownership of, and investment in, highly contracted renewable and natural gas power generation and other infrastructure assets that provide stable cash flow primarily through long-term contracts with strong counterparties; (ii) pursue and capitalize on strategic growth opportunities in the renewable and natural gas power generation and other infrastructure sectors; (iii) maintain diversity in terms of geography, generation and counterparties; and (iv) pay out 80 to 85 per cent of cash available for distribution to the shareholders of the Company on an annual basis.
Cautionary Statement Regarding Forward Looking Information:
This news release contains forward looking statements, including statements regarding the business and anticipated financial performance of the Company and TransAlta Renewables that are based on the Company's and TransAlta Renewable's current expectations, estimates, projections and assumptions in light of their experience and their perception of historical trends. In some cases, forward-looking statements can be identified by terminology such as "plans", "expects", "proposed", "will", "anticipates", "develop", "continue", and similar expressions suggesting future events or future performance. In particular, this news release contains forward-looking statements pertaining to, without limitation, the following: the satisfaction of all conditions to achieving commercial operations under the terms of the PPA; the ability of the South Hedland Power Station to meet all of the requirements of FMG under the terms of the PPA; TransAlta and TransAlta Renewables taking all steps necessary to protect their interests in the South Hedland Power Station and to ensure all cash flows promised under the PPA are realized; and the ability of the South Hedland Power Station to provide low cost electricity and generate low greenhouse gas emissions. These forward-looking statements are not historical facts but reflect the Company's and TransAlta Renewables' current expectations concerning future plans, actions and results. These statements are subject to a number of risks and uncertainties that could cause actual plans, actions and results to differ materially from current expectations including, but not limited to: the outcome of the dispute with FMG; and operational breakdowns, failures, or other disruptions. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect the Company's and TransAlta Renewables' expectations only as of the date of this news release. The Company and TransAlta Renewables disclaim any intention or obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE TransAlta Corporation

Article Date
11/13/2017
Close
8/1/2017 - TransAlta and TransAlta Renewables Provide Update on the Status of Commercial Operations at South Hedland Power Station
X
TransAlta and TransAlta Renewables Provide Update on the Status of Commercial Operations at South Hedland Power Station
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CALGARY, Aug. 1, 2017 /PRNewswire/ - TransAlta Corporation ("TransAlta" or the "Company") (TSX: TA, NYSE: TAC) and TransAlta Renewables Inc. ("TransAlta Renewables") (TSX: RNW) today responded to Fortescue Metals Group Limited's ("FMG") view that the South Hedland Power Station has not yet achieved commercial operation.
All the conditions to establishing that commercial operations have been achieved under the terms of the power purchase agreement with FMG (the "PPA") have been satisfied in full.  These conditions include receiving a commercial operation certificate, successfully completing and passing certain test requirements, and obtaining all permits and approvals required from the North West Interconnected System ("NWIS") and government agencies.  The South Hedland Power Station is fully operational and able to meet all of FMG's requirements under the terms of the PPA.
The South Hedland Power Station, which is located in the Pilbara Region of Western Australia, is a 150 MW combined-cycle natural gas power station that is one of the most efficient power plants in Western Australia, providing low cost electricity to its customers and generating low greenhouse gas emissions.
About TransAlta Corporation:
TransAlta is a power generation and wholesale marketing company focused on creating long-term shareholder value. TransAlta maintains a low-to-moderate risk profile by operating a highly contracted portfolio of assets in Canada, the United States and Australia. TransAlta's focus is to efficiently operate wind, hydro, solar, natural gas and coal facilities in order to provide customers with a reliable, low-cost source of power. For over 100 years, TransAlta has been a responsible operator and a proud contributor to the communities in which it works and lives. TransAlta has been recognized on CDP's Canadian Climate Disclosure Leadership Index (CDLI), which includes Canada's top 20 leading companies reporting on climate change, and has been selected by Corporate Knights as one of Canada's Top 50 Best Corporate Citizens and is recognized globally for its leadership on sustainability and corporate responsibility standards by FTSE4Good.
About TransAlta Renewables Inc.
TransAlta Renewables is among the largest of any publicly traded renewable independent power producers ("IPP") in Canada.  Our asset platform and economic interests are diversified in terms of geography, generation and counterparties and consist of interests in 18 wind facilities, 13 hydroelectric facilities, eight natural gas generation facilities (including South Hedland) and one natural gas pipeline, representing an ownership interest of 2,441 MW of net generating capacity, located in the provinces of British Columbia, Alberta, Ontario, Québec, New Brunswick, the State of Wyoming and the State of Western Australia. Our objectives are to (i) provide stable, consistent returns for investors through the ownership of, and investment in, highly contracted renewable and natural gas power generation and other infrastructure assets that provide stable cash flow primarily through long-term contracts with strong counterparties; (ii) pursue and capitalize on strategic growth opportunities in the renewable and natural gas power generation and other infrastructure sectors; (iii) maintain diversity in terms of geography, generation and counterparties; and (iv) pay out 80 to 85 per cent of cash available for distribution to the shareholders of the Company on an annual basis.
Cautionary Statement Regarding Forward Looking Information
This news release contains forward looking statements, including statements regarding the business and anticipated financial performance of the Company and TransAlta Renewables that are based on the Company's and TransAlta Renewable's current expectations, estimates, projections and assumptions in light of their experience and their perception of historical trends. In some cases, forward-looking statements can be identified by terminology such as "plans", "expects", "proposed", "will", "anticipates", "develop", "continue", and similar expressions suggesting future events or future performance. In particular, this news release contains forward-looking statements pertaining to, without limitation, the following: the satisfaction of all conditions to achieving commercial operations under the terms of the PPA; the ability of the South Hedland Power Station to meet all of the requirements of FMG under the terms of the PPA; and the ability of the South Hedland Power Station to provide low cost electricity and generate low greenhouse gas emissions. These forward-looking statements are not historical facts but reflect the Company's and TransAlta Renewables' current expectations concerning future plans, actions and results. These statements are subject to a number of risks and uncertainties that could cause actual plans, actions and results to differ materially from current expectations including, but not limited to: disputes with counterparties; operational breakdowns, failures, or other disruptions; and changes in economic and market conditions. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect the Company's and TransAlta Renewables' expectations only as of the date of this news release. The Company and TransAlta Renewables disclaim any intention or obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE TransAlta Corporation

Article Date
8/1/2017
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