TransAlta Corp T.TA

Alternate Symbol(s): TAC | T.TA.PR.E | TRNTF | T.TA.PR.D | TACPF | T.TA.PR.F | TSLTF | T.TA.PR.H | T.TA.PR.J | T.TA.PR.G

Utilities Utilities - Independent Power Producers

TransAlta Corporation owns, operates and develops a diverse fleet of electrical power generation assets in Canada, the United States and Australia. It provides municipalities, medium and large industries, businesses and utility customers with affordable, energy-efficient and reliable power. It also produces wind power and hydro-electric power. Its segments include Hydro, Wind & Solar, Gas, Energy Transition, Energy Marketing, and Corporate. It has a diversified fleet of hydro, wind, solar, natural gas, and cogeneration generate 7,300 megawatt of electricity. It delivers renewable energy solutions for large scale commercial partners, including tech companies. It operates a fleet of electrical power generation assets, including Antrim Wind Project, Ardenville Wind Facility, Old Town Wind Project, Pinnacle Project, SunHills Solar Project, Fortescue River Gas Pipeline, and others. The Antrim Wind Project is situated on over 1,700 acres of land located in Hillsborough County, New Hampshire.

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TransAlta Corp > Exceptional Third Quarter 2021 Results

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Comment by Lisagerrard17on Nov 09, 2021 2:57pm

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Post# 34106164

RE:Exceptional Third Quarter 2021 Results

Betteryear2 wrote:
CALGARY, AB, Nov. 9, 2021 /PRNewswire/ -

Third Quarter 2021 Highlights

Comparable EBITDA(1) of $381 million, an increase of $125 million or 49 per cent compared to the same period in 2020

Free cash flow ("FCF")(1) of $189 million or $0.70 per share compared to $106 million or $0.39 per share, a 79 per cent increase on a per-share basis over the same period in 2020

Hydro segment delivered $82 million of comparable EBITDA, an increase of $54 million compared to the same period in 2020

Alberta Thermal segment delivered $104 million of comparable EBITDA, an increase of $57 million compared to the same period in 2020

Adjusted availability was 89.2 per cent compared to 91.5 per cent for the same period in 2020, largely impacted by outages in the Alberta fleet

Other Highlights

Announced Clean Electricity Growth Plan, establishing targets to deliver 2 GW of incremental renewables capacity with investment of $3 billion by 2025

Announced an 11 per cent increase to its common share dividend and declared a dividend of $0.05 per common share to be payable on Jan. 1, 2022 to shareholders of record at the close of business on Dec. 1, 2021

Announced the development of the 48 MW Northern Goldfields Solar and Storage Project for BHP Billiton Nickel West, with full notice to proceed issued to the EPC contractor and construction activities expected to commence in the first quarter of 2022

Announced the decision to suspend the Sundance Unit 5 repowering project and the retirements of Keephills Unit 1 at the end of 2021, and Sundance Unit 4 in 2022, retiring approximately 1,200 MW of coal-fired capacity

Subsequent Events & Updates

Closed the previously announced acquisition of the economic interest of a 122 MW portfolio of operating solar facilities located in North Carolina for approximately US$99 million and the assumption of tax equity obligations

Completion of all construction activities at Windrise and on-track to reach commercial operations in November of 2021

2021 Revised Outlook
With exceptional year-to-date results, the Company has increased its 2021 outlook as set out below:

Comparable EBITDA range of $1.2 to $1.3 billion

FCF range of $500 to $560 million

Energy Marketing gross margin contribution range of $195 to $210 million

TransAlta Corporation ("TransAlta" or the "Company") (TSX: TA) (NYSE: TAC) today reported its financial results for the three and nine months ended Sept. 30, 2021.