As part of a broader agreement with Suncor Energy, TransAlta Corp. has announced it will acquire Suncor's interest in two Canadian wind farms.
TransAlta will acquire Suncor's 20 MW Kent Breeze wind facility, located in Ontario, as well as Suncor's 51% interest in the 88 MW Wintering Hills wind facility, which is located in Alberta.
TransAlta says the wind power assets are part of a larger restructuring deal to eventually transfer ownership of its Poplar Creek co-generation facility to Suncor.
The facility, which has a maximum capability of 376 MW, had been built and contracted to provide steam and electricity to Suncor until 2023. Under the terms of the new arrangement, Suncor will acquire from TransAlta two steam turbines with an installed capacity of 132 MW and certain transmission interconnection assets. In addition, Suncor will assume full operational control of the co-generation facility and have the right to use the full 244 MW capacity of TransAlta's gas generators until Dec. 31, 2030. Ownership of the entire Poplar Creek co-generation facility will transfer to Suncor in 2030.
TransAlta says the restructuring transaction is subject to the satisfaction of a number of customary conditions and the receipt of regulatory approval. The transaction is expected to close in the third quarter of 2015.