TransAlta Stock Price, News & Analysis

TransAlta Corporation (NYSE: TAC) announced it will not redeem the Cumulative Redeemable Rate Reset First Preferred Shares, Series A and Series B on March 31, 2021. Holders of Series A Shares can either retain them for a fixed dividend of 0.71925% annually or convert to Series B Shares for a floating rate of 0.52431%. Series B Shareholders can similarly retain or convert. The conversion rights are subject to conditions regarding outstanding shares. The fixed dividend for Series A applies through March 31, 2026. The deadline for conversion notice is March 16, 2021, at 3:00 p.m. MST.

TransAlta Corporation (TAC) will announce its fourth quarter and full year 2020 results before markets open on March 3, 2021. A conference call will take place at 9:00 a.m. MT for investors and analysts, with media questions invited afterward. TransAlta Renewables will also report its results on the same day, and inquiries related to it will be addressed during the conference call. The instant replay will be accessible post-call, alongside a transcript available on the company's website.

TransAlta Corporation (NYSE:TAC) announced the retirement of CEO Dawn Farrell, effective March 31, 2021, after nearly a decade of leadership. John Kousinioris, currently COO and President of TransAlta Renewables, will succeed her on April 1, 2021. Under Farrell's guidance, TransAlta transformed from a coal-centric company to a leader in clean energy across three countries. The transition reflects a comprehensive succession planning process, highlighting Kousinioris's strategic vision and experience in driving growth and meeting clean energy demands.

TransAlta Corporation (TAC) has successfully completed its first coal-to-gas boiler conversion at Sundance Unit 6, a major step in reducing CO₂ emissions by half. The $85 million investment, which includes $35 million for the conversion, is expected to generate local economic benefits, including nearly 700 jobs during the process. By January 1, 2022, TransAlta's Alberta thermal fleet will operate entirely on natural gas, enhancing asset longevity and aligning with the company's goal of reducing emissions by over 70% from 2005 levels by the end of 2022.

TransAlta Renewables has entered agreements to acquire three renewable energy assets from TransAlta for $439 million. The acquisition includes a 100% interest in the Windrise wind project in Alberta, a 49% economic interest in the Skookumchuck wind facility in Washington State, and a 100% economic interest in the Ada cogeneration facility in Michigan. This acquisition is expected to enhance the company's position in the renewables sector and contribute approximately $45 million in annual EBITDA, extending the average contracted life of its fleet from 10 to 12 years.

TransAlta Corporation (NYSE: TAC) announced a 6% increase in its common share dividend to $0.045 per share for Q1 2021, an annualized dividend of $0.18. This increase marks a positive trend for shareholders, reflecting confidence in cash flows and strategy. The company also entered into agreements for the acquisition of renewable energy assets by TransAlta Renewables, totaling $439 million, with a 19-year average contract life. The dividend payment is set for April 1, 2021, for shareholders recorded by March 1, 2021.

TransAlta Corporation (TSX: TA, NYSE: TAC) has received an A- score from CDP, recognizing its leadership in climate change management. This accolade reflects TransAlta's long-standing commitment to sustainability, particularly in hydro and wind energy. The Canadian government's new climate plan, which includes increasing the carbon price to $170 per tonne by 2030, is expected to have limited impact on TransAlta's economic performance due to its clean energy initiatives. The company also plans to advance its Sundance 5 project and diversify its renewable portfolio, including a new wind project.

TransAlta Corporation (NYSE: TAC) has acquired a 30% equity interest in EMG International LLC, enhancing its sustainability service offerings. This partnership aims to leverage synergies to meet growing customer ESG goals within the wastewater treatment sector. TransAlta anticipates this investment will generate US$2 to US$3 million in annual EBITDA, with potential growth to US$8 to US$10 million. EMG's proprietary technology converts organic waste into renewable energy, aligning with TransAlta's clean energy transition objectives.

TransAlta announced the completion of its 49% equity investment in the Skookumchuck Wind Project, a 136.8 MW wind farm in Washington, developed in partnership with Southern Power Company. The project operates 38 Vestas V136 turbines and commenced commercial operations on November 7, 2020, backed by a 20-year power purchase agreement with Puget Sound Energy.

This investment aligns with TransAlta's Clean Energy Investment Plan and aims to fulfill its customers' ESG needs while reinforcing its presence in the Pacific Northwest market.