TransAlta Corp. (TSX: T.TA, Stock Forum) said it has completed the New Richmond Wind Facility located in the wind-rich Gaspésie area of Québec.
New Richmond was officially commissioned early this morning, when TransAlta's turbines were energized to the Hydro-Québec grid.
According to the TransAlta press release, New Richmond's commissioning adds 68 megawatts of renewable energy to the province's supply; enough to meet the needs of approximately 11,000 Québec homes every year.
All of the power generated is under a 20-year contract with Hydro-Québec Distribution and supports local utility needs; ensuring citizens have access to reliable renewable electricity.
"Renewable energy assets, wind, geothermal and hydro, now make up almost 25% of our portfolio; a significant achievement for the company over the past decade,” said Dawn Farrell President and CEO.
TransAlta is an energy company with a growing appetite for electrical power while minimizing the environmental impact of doing so.
On Wednesday morning, TransAlta was trading at $15.90 a share. The company had a market cap of $3.9 billion, based on 258.4 million shares outstanding. The 52-week high and low was $19.75 and $13.96 respectively.