Third Quarter 2021 Results CALGARY, AB, Nov. 9, 2021 /CNW/ -
Third Quarter 2021 Highlights
- Comparable EBITDA(1) of $102 million, a $6 million increase to the same period in 2020
- Adjusted funds from operations ("AFFO")(1) of $57 million, a $19 million decrease to the same period in 2020
- Cash available for distribution ("CAFD")(1) of $54 million or $0.20 per share in the third quarter, a $19 million or $0.07 per share decrease to the same period in 2020
Significant & Subsequent Events
- Announced full notice to proceed on the 48 MW Northern Goldfields Solar project with target of providing BHP Billiton Nickel West Pty Ltd. with renewable electricity to its Goldfields-based operations by second half of 2022
- Closed the previously announced acquisition of the economic interest of a 122 MW portfolio of operating solar facilities located in North Carolina for the amount of US$102 million
- Completion of all construction activities at Windrise and on-track to reach commercial operations in November of 2021
TransAlta Renewables Inc. ("TransAlta Renewables" or the "Company") (TSX: RNW) announced today financial results for the three and nine months ended Sept. 30, 2021.
"We are pleased to have made progress this quarter on our strategy of fleet diversification and growth in our contracted cash flow profile with the closing of the North Carolina Solar acquisition. This project expands our solar footprint in the United States and adds a new high-quality customer in a region where we see significant growth opportunities. The project is expected to add US$9 million in comparable EBITDA annually," said Todd Stack, President. "We are also pleased to announce the completion of construction activities at our Windrise facility, with a 20-year contract with the AESO, which also enhances the overall contractedness of our asset portfolio."