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Wire

TransAlta's Coal-Fired Power Generation Facility Gets Additional 90-Day Federal Extension

TransAlta (TAC) confirmed Monday that its TransAlta Centralia Generation unit received a US Department of Energy order requiring Centralia Unit 2, a coal-fired power generation plant in Washington state, to remain available for operation through Sept. 13.US Secretary of Energy Chris Wright issued the emergency order on Friday, saying the directive aims to reduce the risk of electricity shortages and outages in the Western Electricity Coordinating Council's Northwest region.Centralia Unit 2 has a generating capacity of about 730 megawatts and was scheduled to cease operations at the end of 2025 under agreements tied to Washington state legislation, according to the order.TransAlta has previously announced plans to convert the unit to natural gas by 2028, Wright said in the order.The order follows earlier emergency directives that kept the unit available through June 14, according to the directive.TransAlta said Monday it will comply with the directive and continue working with the US Department of Energy and Washington state officials.Price: $13.39, Change: $-0.01, Percent Change: -0.07%

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Commodities

TransAlta to Acquire 318 MW Colorado Gas Assets in $1 Billion Deal

TransAlta (TAC) has entered into an agreement to acquire two Colorado natural gas peaking facilities totaling 318 megawatts in a $1 billion transaction, the company said Wednesday.The acquisition includes Mountain Peak Power and Canyon Peak Power, indirect Blackstone subsidiaries that own two newly built natural gas peaking plants near Denver, Colorado, the company said.Mountain Peak Power operates a 162 MW facility that entered service in Sept. 2025, while the 156 MW Canyon Peak Power plant is expected to begin commercial operations in Q3 of 2026, the company said.The assets are expected to generate about $80 million in annual adjusted EBITDA and provide long-term contracted cash flows.Chief Executive Officer Joel Hunter said the acquisition will generate long-term contracted cash flows that TransAlta can reinvest in growth opportunities, including the Centralia and Alberta data center developments."It strengthens our business risk profile, is immediately accretive to our free cash flow per Share and establishes a strategic foothold in Colorado, a state we believe has accelerating growth potential," Hunter said.The $1 billion transaction includes $750 million of senior secured project debt and $250 million of equity, with TransAlta simultaneously launching a $350 million bought deal common share offering.TransAlta said net proceeds from the $350 million bought deal offering will fully fund the equity portion of the acquisition, while the project debt is non-recourse, fully amortizing and carries investment-grade ratings.The company said portfolio optimization initiatives, asset recycling opportunities, recovering Alberta power prices and Centralia's return to service are expected to strengthen credit metrics.TransAlta expects to close the acquisition in early Q4 2026, subject to Canyon Peak Power reaching commercial operation, regulatory approvals and other customary closing requirements.Price: $12.90, Change: $-1.56, Percent Change: -10.79%

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Sectors

Sector Update: Energy Stocks Lean Lower Premarket Thursday

Energy stocks were leaning lower premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.8%.The United States Oil Fund (USO) was down 3.2% and the United States Natural Gas Fund (UNG) was 2% higher.Front-month US West Texas Intermediate crude oil was 3.7% lower at $92.51 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 3.1% to $94.77 per barrel, and natural gas futures were up 2.5% at $3.29 per 1 million British Thermal Units.Expro Group (XPRO) shares were up more than 1% after the company said it has filed its definitive proxy statement with the Securities and Exchange Commission regarding its proposed move to redomicile in the Cayman Islands from the Netherlands.TransAlta (TAC) said it has agreed to buy two natural gas-fired peaking facilities in Colorado from Blackstone units in a $1.0 billion deal, including $750 million of debt. TransAlta stock was down more than 5% premarket.DHT (DHT) secured a new $250 million revolving credit facility to strengthen financial flexibility and lengthen its debt maturity schedule, the company said. DHT shares were 0.1% lower pre-bell.

$DHT$TAC$UNG$USO$XLE$XPRO
Mining & Metals

TransAlta Down 3.9% After Hours as It Buys Two Colorado Natural-Gas Plants From Blackstone for US$1 Billion

TransAlta (TA.TO, TAC) was last seen down 3.9% in after-hours New York trading after the company on Wednesday said it agreed to acquire Mountain Peak Power and Canyon Peak Power in Colorado from Blackstone for about US$1 billion.The two natural-gas peaking facilities, located near Denver,, have a combined capacity of 318 megawatts. Mountain Peak Power has been operating since September 2025, while Canyon Peak Power is expected to begin commercial operations by the end of September.The company said the assets are expected to generate about US$80 million in annual adjusted EBITDA. "These assets will generate long-term contracted cash flows for redeployment into other growth prospects such as Centralia and Alberta data centres, and I am pleased with the continued meaningful progress on both projects," Chief Executive Joel Hunter added.The transaction is valued at about US$1 billion, including US$750 million of assumed project debt and US$250 million of equity. TransAlta plans to fund the equity portion through a concurrent $350-million bought-deal share offering, according to the statement.The acquisition is set to close in early Q4, subject to Canyon Peak Power entering commercial service, regulatory approvals, and other customary closing conditions, the company said.The company's shares were last seen down US$0.56 to US$13.90 after hours. They closed up $0.25 to $20.08 on the Toronto Stock Exchange.

$TA.TO$TAC
Wire

TransAlta Sees 'Upward Inflection' Ahead on Data Center Demand, RBC Says

TransAlta (TAC) remains positioned for a potential "upward inflection" in the coming quarters, though RBC Capital Markets said in a Thursday note the investment case is more of a longer-duration setup tied to Alberta grid tightening and data center-driven demand growth.The firm said weaker-than-expected Q1 results do not change the broader thesis and highlighted potential data center load growth and improving project visibility in the province. RBC said TransAlta's reaffirmed 2026 guidance should provide investors "some comfort."The company's investment thesis remains "robust" due to strong fleet availability, disciplined hedging and a supportive balance sheet. The brokerage described the setup as requiring patience and expects meaningful upside to emerge in 2028 and beyond as supply-demand dynamics tighten.The firm highlighted that TransAlta's hedging strategy and asset optimization "generated realized prices about 45-50% above spot levels across its hydro and gas fleets." RBC said this underscores the value of its commercial and industrial book and active portfolio management.RBC added that Alberta forward power prices are "not fully pricing in" potential data center-related demand growth. It said this demand could begin as early as 2027, though the more material impact is expected later in the decade as load growth scales.The firm has an outperform rating on the stock, with a CA$24 price target.Price: $12.76, Change: $-0.03, Percent Change: -0.23%

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Commodities

TransAlta Reports Lower Q1 Output, Expands Development Pipeline

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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