TransAlta Renewables acquires two U.S. wind projects
by Cleantech Canada Staff
The two construction-ready projects, located in Pennsylvania and New Hampshire, are estimated to cost US$240 million, and both are expected to begin commercial operations in late 2019
CALGARY—TransAlta Renewables Inc., a subsidiary of Calgary-based energy firm TransAlta Corp., announced Feb. 20 that it has acquired, subject to closing conditions, two construction-ready wind development projects: a 90 megawatt (MW) site in Pennsylvania and a 29 MW site in New Hampshire.
The total cost of the two projects is an estimated US$240 million, and both are expected to start commercial operations in the second half of 2019.
“This acquisition demonstrates our commitment to grow and diversify our cash flows through the addition of long-term contracted assets with high quality counterparties, and expands our presence in the United States,” said John Kousinioris, Chief Legal and Compliance Officer, TransAlta Corp.
The Pennsylvania project has a 15-year power purchase agreement (PPA) and the New Hampshire project has two 20-year PPAs.
