TransAlta Renewables acquire two U.S Wind Projects

TransAlta Renewables asserted that it has ventured into an arrangement to acquire two construction-ready projects in the Northeast United States.

The wind development projects consist of  a) 90 MW project located in Pennsylvania which has a 15-year Power Purchase Agreement . Total cost of the two projects is estimated to be US$240 million, of which approximately 70% will be funded in 2018 and the remainder in 2019. The commercial operation date for both projects is expected during the second half of 2019.

b) 29 MW project located in New Hampshire with 20-year PPAs. All three counter-parties have S&P credit ratings of A+ or better.

President John Kousinioris said “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.”