- Business
- TransAlta Corp owns, operates and develops a diverse portfolio of electrical power generation assets across Canada, the United States and Australia; generates electricity from hydro, wind, solar, battery storage, natural gas, cogeneration and thermal sources; and sells power, capacity, renewable energy solutions and energy marketing services to municipalities, medium and large industries, businesses, utility customers and wholesale markets including technology companies. The company provides clean energy solutions with over 9,000 megawatts of capacity from more than 88 assets, including long-term contracted facilities such as the Horizon Hill wind project serving Meta Platforms Inc. and White Rock wind facilities serving Amazon Energy LLC; operates 66 facilities in Canada with 6,792 MW gross capacity focused on hydro, gas and wind in Alberta and Ontario; manages 13 facilities in the US with 1,724 MW capacity encompassing gas, hydro, solar and wind primarily in Washington and Oklahoma; and runs 9 facilities in Australia with 498 MW capacity including gas and expansions like the Mount Keith 132kV project supporting BHP Nickel West. Founded in 1911 as Calgary Power Company and renamed TransAlta in 1981, the company maintains headquarters in Calgary, Alberta. TransAlta completed the acquisition of Heartland Generation Ltd. from Energy Capital Partners for $542 million on December 4, 2024, adding 1.7 GW of net capacity in cogeneration, peaking and gas-fired thermal assets in Alberta subject to divestitures of Poplar Hill and Rainbow Lake; entered a definitive agreement on November 16, 2025, to acquire Far North Power Corporation's 310 MW contracted natural gas portfolio in Ontario from Hut 8 Corp. and Macquarie Equipment Finance for $95 million, expected to close in early 2026 and add $30 million annual Adjusted EBITDA; announced an 8% dividend increase to $0.26 per share annualized in February 2025 marking the sixth consecutive year of growth; and mothballed Sundance Unit 6 in Alberta effective April 1, 2025, for up to two years while pursuing coal-to-gas conversions at Centralia and data center opportunities at Alberta thermal sites.