TransAlta to Acquire Heartland Generation from Energy Capital Partners at a Reduced Price of $542 Million

CALGARY, Alberta, Nov. 14, 2024 (GLOBE NEWSWIRE) --

Highlights

TransAlta Corporation (TSX: TA; NYSE: TAC) ("TransAlta" or "Company") announced today that it has entered into an amending agreement to the share purchase agreement (the "Amending Agreement") with an affiliate of Energy Capital Partners ("ECP"), the parent of Heartland Generation Ltd. and Alberta Power (2000) Ltd. (collectively, "Heartland"), relating to the previously announced acquisition of Heartland and its business operations by TransAlta (the "Transaction"). In order to meet the requirements of the federal Competition Bureau ("Bureau"), TransAlta has also entered into a consent agreement with the Commissioner of Competition pursuant to which TransAlta has agreed to divest Heartland's Poplar Hill and Rainbow Lake assets following closing of the Transaction (the "Divestitures"). Closing of the Transaction is expected to occur on or before December 4, 2024.