CALGARY — Calgary-based utility TransAlta Corp. has acquired a contracted cogeneration plant in Michigan from two private companies for US$27 million.
The 29 megawatt cogeneration facility is contracted under a long-term power purchase and steam sale agreements for approximately six years.
The Calgary-based provider of electric power said the acquisition is its first U.S. cogeneration project.
The plant, with a single GE LM2500 gas turbine and an ABB steam turbine, has been operational since 1991.
The acquisition, subject to regulatory approvals, is to close in the second quarter of the year.