Welcome to our dedicated page for TransAlta news (Ticker: TAC), a resource for investors and traders seeking the latest updates and insights on TransAlta stock.
TransAlta Corporation (TAC) generates frequent news as a publicly traded power producer with a diversified fleet of electrical power generation assets in Canada, the United States and Australia. News coverage for TAC often reflects developments across its hydro, wind, solar, gas and thermal generation portfolio, as well as its role as one of Canada’s largest producers of wind power and Alberta’s largest producer of thermal and hydro-electric power.
Investors following TransAlta’s news can expect regular updates on operational decisions affecting specific facilities, such as notices to mothball units, regulatory orders affecting plant availability, and long-term agreements that reshape the company’s asset base. Recent examples include a notice to temporarily mothball Sheerness Unit 1 in Alberta and an order from the United States Department of Energy requiring Centralia Unit 2 in Washington State to remain available for operation for a defined period.
Corporate news for TAC also covers long-term contracts and acquisitions, such as a tolling agreement to convert Centralia Unit 2 from coal to natural gas-fired generation and a definitive agreement to acquire a 310 megawatt contracted Ontario gas portfolio. These items illustrate how TransAlta adjusts its portfolio through coal-to-gas conversions, contracted capacity arrangements and strategic acquisitions.
Financial and capital markets updates appear in TransAlta’s announcements of quarterly results, dividend declarations on common and preferred shares, credit facility extensions and other financing-related developments. Governance and leadership topics, such as the planned succession of the company’s President and Chief Executive Officer, also feature in the news flow.
This news page aggregates these types of items so readers can monitor TransAlta’s operational decisions, financial performance, ESG-related disclosures and strategic transactions in one place. For users tracking TAC, revisiting this page provides a view of how the company’s generation fleet, contracts and capital allocation priorities evolve over time.
TransAlta reported strong Q3 2021 results, achieving comparable EBITDA of $381 million, up 49% year-over-year, and free cash flow of $189 million or $0.70 per share, a 79% increase. The Hydro and Alberta Thermal segments contributed significantly, with EBITDA rising by $54 million and $57 million respectively. However, net loss for the quarter amounted to $456 million, driven by asset impairments following project suspensions. The company announced an 11% dividend increase and plans to invest $3 billion in renewable capacity.
TransAlta Corporation (NYSE: TAC) announced its participation in the Powering the World Past Coal event at COP26, where it joined the Powering Past Coal Alliance. TransAlta aims to enhance its renewable capacity by two gigawatts over five years, with significant reductions in greenhouse gas emissions already achieved, down 61% from 2005 levels. By 2030, the company targets a 70% reduction. TransAlta's coal transition includes ending all coal generation in Canada by 2021 and converting substantial capacity to gas-fired generation.
The Board of Directors of TransAlta Corporation (TAC) has declared quarterly dividends on its Cumulative Redeemable Rate Reset First Preferred Shares for the period from September 30, 2021, to December 31, 2021. The dividends include:
- Series A: $0.17981; Dividend Rate: 2.877%
- Series B: $0.13970; Dividend Rate: 2.217%
- Series C: $0.25169; Dividend Rate: 4.027%
- Series E: $0.32463; Dividend Rate: 5.194%
- Series G: $0.31175; Dividend Rate: 4.988%
Record date for all series is December 1, 2021, with payment scheduled for December 31, 2021.
TransAlta Corporation (NYSE: TAC) will announce its third quarter 2021 results on November 9, 2021, before market opening. A conference call for investors and analysts will take place on the same day at 9:00 AM MT (11:00 AM ET). TransAlta Renewables will also present its Q3 results during this call. Interested participants can join via a toll-free number or through a webcast, with related materials available on TransAlta's Investor Centre. This advisory underscores the company's commitment to transparency and shareholder engagement.
TransAlta Corporation (NYSE: TAC) has set ambitious growth targets, aiming for 2 GW of new renewable capacity with a $3 billion investment by 2025. The company plans to accelerate its focus on customer-centered renewables and storage through a 3 GW development pipeline and has approved an 11% increase in its quarterly dividend to $0.05, payable on January 1, 2022. TransAlta is committed to being coal-free by 2025, aiming for a 70% reduction in carbon emissions by 2030 from 2005 levels. However, it has suspended the Sundance Unit 5 repowering due to escalating costs.
TransAlta reported a strong second quarter 2021, achieving comparable EBITDA of $302 million, a 39% increase year-over-year. Free cash flow rose 52% to $138 million or $0.51 per share. Hydro and Alberta Thermal segments led the growth, with EBITDA contributions of $96 million and $85 million, respectively. Adjusted availability decreased to 84.8% due to major maintenance. The company enhanced its 2021 outlook, projecting comparable EBITDA of $1.1 to $1.2 billion and free cash flow of $440 to $515 million.
On August 5, 2021, TransAlta Corporation (TAC) announced a quarterly dividend of $0.0450 per common share, payable on October 1, 2021, to shareholders of record by September 1, 2021. Additionally, dividends for its Cumulative Redeemable Rate Reset First Preferred Shares were declared, with rates and amounts varying by series:
- Series A: $0.17981 (Payment Date: September 30, 2021)
- Series B: $0.13479 (Payment Date: September 30, 2021)
- Series C: $0.25169 (Payment Date: September 30, 2021)
- Series E: $0.32463 (Payment Date: September 30, 2021)
- Series G: $0.31175 (Payment Date: September 30, 2021)
All amounts are in Canadian dollars.
TransAlta Corporation (TAC) has completed the second of three coal-to-gas conversions at its Alberta facilities, reducing CO2 emissions significantly. The $31.5 million conversion of Keephills Unit 2 (KH2) is part of a broader $96 million investment aimed at transitioning to 100% clean electricity by the end of 2021. This project aligns with TransAlta's goal to cut annual greenhouse gas emissions by 60% by 2030. The conversion not only maintains generation capacity but also creates approximately 800 jobs, benefiting the local economy.
TransAlta Corporation (NYSE: TAC) will announce its Q2 2021 results on August 10, 2021, before market opening. A conference call will take place at 9:00 AM MT, allowing investors and media to discuss the results and ask questions. TransAlta Renewables will also present its Q2 2021 results on the same date during this call. Interested parties can join via a toll-free number or through a webcast link provided in the release. TransAlta continues to focus on clean, reliable energy production across Canada, the U.S., and Australia, showcasing its commitment to sustainability.
TransAlta Corporation (NYSE: TAC) announced the successful closing of the sale of the Pioneer Pipeline to ATCO Gas and Pipelines Ltd. for $255 million, with net cash proceeds of approximately $127.5 million. This move supports TransAlta's off-coal transition strategy and ensures reliable gas supply for its power generation units. Additionally, TransAlta has secured long-term gas transportation agreements with NOVA Gas Transmission for new and existing services. This strategic sale highlights TransAlta's commitment to reducing carbon emissions while maintaining efficient energy supply.