TransAlta Launches TransAlta Renewables

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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.

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