AIMCo-backed TransAlta to acquire U.S. wind projects
TransAlta Renewables Inc (TSX: RNW) has agreed to acquire two wind development projects in New Hampshire and Pennsylvania, reflecting 29 megawatts and 90 megawatts, respectively. The total cost of the projects is about US$240 million, of which about 70 percent will be funded in 2018 and the rest in 2019. Commercial operation is expected in 2019's second half. TransAlta, a Calgary-based renewable power producer, said the deal provides asset and geographic diversification. TransAlta is backed by Alberta Investment Management Corp (AIMCo). AIMCo invested $200 million in the business in 2015.
20 February 2018•3 mins read
