CALGARY, AB, Dec. 1, 2020
/CNW/ - TransAlta Corporation ("TransAlta" or "the Company") (TSX:
TA) (NYSE: TAC) announced today that it has closed its 49 per cent
equity investment in the Skookumchuck Wind Project ("Skookumchuck")
with Southern Power Company, a subsidiary of Southern Company.
Skookumchuck is a 136.8 MW wind
project located in Lewis and Thurston Counties, Washington consisting of 38 Vestas V136 wind
turbines.
Skookumchuck began commercial
operation on November 7, 2020 and has
a 20-year power purchase agreement ("PPA") with Puget Sound Energy,
Inc.
"Our investment in Skookumchuck
furthers our ambitious objectives as outlined in our Clean Energy
Investment Plan and is another step towards meeting our, and our
customers', E2SG needs," said Dawn Farrell, President and Chief Executive
Officer of TransAlta. "We are pleased to participate in a project
that continues our relationship with Puget and serves customers in
the Pacific Northwest market."
About TransAlta:
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. TransAlta provides municipalities, medium and
large industries, businesses and utility customers with clean,
affordable, energy efficient and reliable power. Today, TransAlta
is 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 has been recognized by CDP (formerly
Climate Disclosure Project) as an industry leader on Climate Change
Management. TransAlta is 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 its website at
transalta.com.
Forward Looking Statements:
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: our Clean Energy Investment Plan, and our
ability to meet our customers' E2SG needs. 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 impact of the novel
coronavirus; changes in the law or political developments 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, filed under
the Company's profile with the Canadian securities regulators on
www.sedar.com and the U.S. Securities and Exchange Commission on
www.sec.gov. 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. For additional information on the
assumptions made, and the risks and uncertainties which could cause
actual results to differ from those in the forward looking
information, refer to the Company's Annual Report and Management's
Discussion and Analysis filed under the Company's profile on SEDAR
at www.sedar.com and with the U.S. Securities and Exchange
Commission at www.sec.gov.
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SOURCE TransAlta Corporation