TransAlta Closes $305M Oklahoma Wind Stake Sale and $1B Colorado Gas Buy
TAC sits 17% above its 52-week low of $11.38.
Summary
TransAlta closed two portfolio moves at once: it sold a 49% minority stake in its 500 MW Oklahoma wind portfolio (White Rock West, White Rock East, Horizon Hill) to Ares Infrastructure funds for US$305 million cash, and it completed the US$1.0 billion purchase of Mountain Peak Power and Canyon Peak Power from Blackstone, adding 318 MW of contracted gas peaking capacity near Denver. The Colorado deal is mostly debt — US$750 million of the price is assumed senior secured project-level debt, so the cash outlay is roughly US$250 million, largely covered by the wind proceeds. TransAlta keeps operational control of the Oklahoma assets under a long-term management agreement and books about US$29 million of the portfolio's expected US$60 million 2026 Adjusted EBITDA. Management framed the rotation as funding the Centralia conversion and Alberta data centre projects, so the read-through is balance-sheet capacity for large-load growth rather than a change to guidance. Q3 results are due November 3 before market open. Ares is the counterparty on the minority stake, not the primary subject of the release.
At the time of this announcement, TAC was trading at $13.34 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $4.2B. The 52-week trading range was $11.38 to $17.88. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.