If you’re fortunate enough to have Berkshire Hathaway in your investment portfolio, you will soon own a piece of TransAlta’s new natural gas-fired power plants.
TransAlta has announced a deal to build new projects, including the Sundance 7 development which could generate as much as 800 megawatts, on a 50/50 basis with Iowa-based Mid American Energy Holdings, a subsidiary, of Warren Buffet’s Berkshire Hathaway.
TransAlta will be responsible for construction management, operation and maintenance under the deal with the Buffet company.
The news on Friday resulted in a 3 per cent bump in the price of TransAlta shares on the TSX to $15.71.