From today's globe and mailLooks like RNW will get some drop downs from TA soon. Here is the article.
TransAlta Corp. (TA-T; TAC-N) announced its Clean Energy Investment Plan, which includes converting its existing Alberta coal assets to natural gas and “advancing its leadership position in renewable energy.”
The company said the total cost of the plan is expected to be approximately $2-billion, which includes approximately $800 million of renewable energy projects already under construction, the company stated.
"TransAlta's plan includes converting three of its existing Alberta thermal units to gas in 2020 and 2021 by replacing existing coal burners with natural gas burners," it stated. "The company will also convert two of its units to highly efficient combined-cycle natural gas units in the late 2023 to late 2024 period.
It said the plan will be funded from the cash raised earlier this year through the strategic investment with an affiliate of Brookfield Renewable Partners, cash generated from operations, and through TransAlta Renewables Inc. The company also said it “remains committed” to returning up to $250-million to shareholders over the next three years through share repurchases and reducing its corporate-level debt by $400-million in 2020.