TransAlta Corp. says it is creating TransAlta Renewables to provide investors with the opportunity to directly invest in a highly contracted portfolio of renewable power generation facilities.
TransAlta Corp. will be the sponsor and manager of TransAlta Renewables and will provide TransAlta Renewables with its initial asset base. A preliminary prospectus qualifying the initial public offering of TransAlta Renewables common shares to the public was filed today.
Upon completion of the offering, TransAlta expects to hold an approximate 80-85% interest in TransAlta Renewables. TransAlta also intends to transfer 1,112 MW of contracted wind and hydro power generation assets to TransAlta Renewables.
