Outlook and Continuing Strong Cash Flow for 2022 CALGARY, AB, Jan. 18, 2022 /PRNewswire/ - TransAlta Corporation ("TransAlta" or the "Company") (TSX: TA) (NYSE: TAC) announced today its financial outlook for 2022.
Highlights
- Comparable EBITDA range of $1.065 billion to $1.185 billion
- Free Cash Flow ("FCF") range of $455 million to $555 million or FCF per share range of $1.68 to $2.05
- Sustaining capital range of $150 million to $170 million
- Continued delivery of TransAlta's Clean Electricity Growth Plan by reaching final investment decision on 400 to 500 MW of additional clean energy projects across Alberta, the United States and Australia to deliver $50 million to $70 million of incremental EBITDA
"We are pleased to announce that our annual outlook highlights continuing strong cash flow expectations for 2022. Our fleet remains well positioned to capture the ongoing strength we see in the Alberta merchant market. We also remain focused on growth that creates value for our shareholders as we work to deliver on our 2 GW renewables growth target by 2025. In 2021, our team secured 600 MW of new renewables projects demonstrating our competitiveness and capability to deliver our growth strategy across all our geographies," said John Kousinioris, President and Chief Executive Officer of TransAlta.
"2022 marks our transition off coal in Canada. With the completion of all our coal-to-gas conversions, and with our renewables growth plan well underway, we have adopted a more ambitious target of 75 per cent emissions reduction over 2015 levels by 2026. We are also proud to be the first publicly-traded electricity company in Canada to commit to setting a science-based emissions reduction target. We are excited for another great year of execution and ESG performance for TransAlta," added Mr. Kousinioris.