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TransAlta Reports Lower Q1 Output, Expands Development Pipeline

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TransAlta (TAC) reported Q1 earnings on Wednesday, showing total generation of 5,444 gigawatt hours, down from 6,832 GWh a year earlier, according to the company.

The company reported gas-fired generation for the quarter ended Mar. 31 at 3,146 GWh, compared with 3,504 GWh a year earlier, it said.

Wind and solar production increased to 1,938 GWh from 1,905 GWh a year earlier, while hydro generation declined to 360 GWh from 383 GWh, according to the company.

Hydro availability improved to 95.4% in Q1 from 93.6% a year earlier, while wind and solar availability slipped to 92.9% from 94.0%. Gas segment availability declined to 94.0% from 95.5%, the company added.

TransAlta signed a memorandum of understanding with Brookfield and Canada Pension Plan Investments for a Keephills data center project in Alberta, including an initial 230 MW power agreement and potential expansion up to 1 GW, subject to approvals.

The company acquired Far North Power in February, adding 310 MW of natural gas-fired generation capacity from four facilities in Ontario for about CA$95 million ($69.7 million), it said.

The company is advancing a 700 MW coal-to-gas conversion project at Centralia under a long-term tolling agreement with Puget Sound Energy, with the project expected to require about US$600 million in capital and begin operations in late 2028, TransAlta added.

TransAlta's development pipeline includes 860 MW of mid-stage projects and 2,890 MW of early-stage projects, according to the company.

Price: $12.64, Change: $+0.04, Percent Change: +0.32%

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