Welcome to our dedicated page for TransAlta news (Ticker: TAC), a resource for investors and traders seeking the latest updates and insights on TransAlta stock.
TransAlta Corporation (NYSE: TAC, TSX: TA) is a leading independent power producer headquartered in Alberta, Canada. With over 112 years of experience, TransAlta operates a diverse portfolio of power generation assets across Canada, the United States, and Australia. The company's assets include wind, hydro, coal, and natural gas facilities, which collectively provide reliable and sustainable power to millions of customers.
Core Business and Operations
TransAlta's core business revolves around the generation and sale of electricity. The company has six reportable segments: hydro, wind & solar, energy marketing, gas, energy transition, and the corporate segment. The majority of TransAlta's revenue is generated from its gas segment, which continues to be a significant contributor to its financial performance.
Recent Achievements and Projects
TransAlta has been proactive in expanding its operations and enhancing its existing infrastructure. Some of its recent projects include a new pipeline development in Australia and new transmission projects in Alberta. The company has also achieved a 66% reduction in GHG emissions since 2015 and has received an upgraded MSCI ESG rating of AA, underscoring its commitment to sustainability.
Employee Growth and Opportunities
With over 2000 employees in three countries, TransAlta offers numerous opportunities for professional growth. The company is committed to fostering a positive work environment, as evidenced by the high satisfaction rates among its employees. Notably, 92% of new graduates move on to permanent positions, and 98% of new hires would recommend TransAlta to others.
Financial Condition and Shareholder Value
TransAlta maintains a robust financial position, as highlighted by its strong free cash flow. To enhance shareholder returns, the company has implemented a normal course issuer bid (NCIB) and an automatic share purchase plan (ASPP). These initiatives reflect TransAlta's strategic capital allocation and its commitment to long-term shareholder value.
Community and Sustainability
TransAlta is deeply integrated into the communities where it operates. The company aligns its goals with the UN Sustainable Development Goals and the Future-Fit Business Benchmark. Its reporting on climate change management is guided by international standards, including the IFRS S2 Climate-related Disclosures Standard and the Task Force on Climate-related Financial Disclosures (TCFD) recommendations.
For more information about TransAlta, visit their official website at transalta.com.
TransAlta announced the completion of its 49% equity investment in the Skookumchuck Wind Project, a 136.8 MW wind farm in Washington, developed in partnership with Southern Power Company. The project operates 38 Vestas V136 turbines and commenced commercial operations on November 7, 2020, backed by a 20-year power purchase agreement with Puget Sound Energy.
This investment aligns with TransAlta's Clean Energy Investment Plan and aims to fulfill its customers' ESG needs while reinforcing its presence in the Pacific Northwest market.
TransAlta Corporation reported a third quarter 2020 comparable EBITDA of $256 million, up 3% from $249 million in Q3 2019. Free cash flow was $106 million or $0.39 per share, down from $114 million in the previous year. The company plans to cease all coal mining operations at Highvale Mine by December 31, 2021, aligning with its climate leadership strategy. Notable financing achievements include a $800 million secured note offering and a $400 million investment from Brookfield. Liquidity stands at approximately $2.7 billion.
The Board of Directors of TransAlta Corporation (TAC) declared a quarterly dividend of $0.0425 per common share, payable on January 1, 2021. Shareholders recorded by December 1, 2020 will receive this dividend. Additionally, dividends for Cumulative Redeemable Rate Reset First Preferred Shares were also announced, with rates ranging from 2.179% to 5.194%, payable on December 31, 2020. All amounts are in Canadian dollars.
TransAlta Corporation (TAC) has successfully closed the second tranche of a strategic investment from Brookfield Asset Management, totaling $400 million. This follows Brookfield's total commitment of $750 million through exchangeable securities, which can be converted into equity in TransAlta's Alberta hydro assets. The funds are earmarked for advancing the company's coal-to-gas conversion, supporting growth initiatives, returning capital to shareholders, and funding general corporate purposes. TransAlta aims to enhance its position in renewable energy, especially in hydro and wind power.
TransAlta Corporation (TSX: TA, NYSE: TAC) is scheduled to release its third quarter 2020 financial results on November 4, 2020, prior to market opening. A conference call for analysts and media will take place at 8:00 a.m. MT on the same day. TransAlta Renewables will provide its third quarter results earlier on October 30, 2020. Interested parties can access related materials on the Investor Centre of TransAlta's website.
TransAlta Corporation announced the sale of the Pioneer Pipeline to ATCO Gas and Pipelines for CDN $255 million, replacing a prior agreement with NOVA Gas Transmission. This transaction, in partnership with Tidewater Midstream, integrates the pipeline into NGTL's gas transmission systems, ensuring a reliable gas supply for TransAlta's power generation at Sundance and Keephills. The deal awaits regulatory approval expected by Q2 2021, and includes long-term gas transportation agreements totaling 400 TJ/day by 2023.
TransAlta Corporation (TAC) reported second quarter 2020 results highlighting a comparable EBITDA of $217 million, matching 2019 figures, and free cash flow of $91 million, a 94% increase year-over-year. The company completed a $27 million acquisition of a cogeneration facility in Michigan and agreed to sell the Pioneer Pipeline for $128 million. Additionally, TransAlta continued its transition towards clean energy, announcing the retirement of Sundance Unit 3. Despite operational challenges due to COVID-19 and market conditions, the company maintained strong financial health with $1.6 billion in liquidity.
The Board of Directors of TransAlta Corporation (TAC) has declared a quarterly dividend of $0.0425 per common share, payable on October 1, 2020, to shareholders on record by September 1, 2020. For the Cumulative Redeemable Rate Reset First Preferred Shares, dividends were also announced for Series A, B, C, E, and G with varying rates and amounts. These dividends reinforce TransAlta's commitment to providing value to its shareholders.
TransAlta Corporation (NYSE: TAC) announced the retirement of its mothballed coal-fired Sundance Unit 3, effective July 31, 2020. This decision is part of TransAlta's strategy to achieve 100% clean electricity by 2025, driven by market conditions, the unit's age, and operational capacity. The company continues to operate a diversified fleet of generation assets, positioning itself to meet Alberta's electricity demands effectively. TransAlta is recognized for its contributions to sustainable energy and aims for long-term shareholder value.
TransAlta Corporation (TSX: TA, NYSE: TAC) is set to release its second quarter 2020 results on July 31, 2020, before market opening. A conference call will take place the same day at 9:00 a.m. MT (11:00 a.m. ET) for investors, analysts, and media to discuss the results. Participants are encouraged to contact the conference operator ahead of the call. The call will include a Q&A segment for media following analysts' questions. Related materials will be available on TransAlta's Investor Centre.
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