TransAlta Shifts Strategic Focus To Customer-Centered Power Solutions (Renewables & Storage), Including U.S. Growth
September 28, 2021 Email This Story Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • firstname.lastname@example.org
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TransAlta Corporation ("TransAlta" or the "Company") today announced its strategic growth targets, "which strengthen the Company's commitment to being a leader in clean electricity by delivering customer-centered power solutions."
The strategic growth targets include adding 2 GW of new capacity to the Company's fleet, and investing approximately $3 billion (all $ Canadian) developing, constructing and acquiring new assets by the end 2025, TransAlta said
"We have significant growth aspirations across Canada, the United States and Australia with a focus on renewable and storage power solutions for large customers," said John Kousinioris, President and Chief Executive Officer of TransAlta. "As we look forward to 2025, we are confident in our investment strategy and the decision to expand further into contracted renewables with onshore wind, solar and battery storage across our platform. We believe this enhanced customer focus on renewable generation and storage will provide significant value for our shareholders."
The Company's recently adopted strategic growth targets include:
• delivering 2 GW of incremental renewables capacity with a targeted investment of $3 billion by the end of 2025. Already this year the company has announced 300 MW of new build projects and asset acquisitions and has 500 MW in advanced-stage development;
• accelerating growth into customer-centred renewables and storage through the development of its 3 GW development pipeline;
• expanding the Company's development pipeline to 5 GW by 2025 to enable a two-fold increase in its renewables fleet by 2030;
• realizing targeted diversification and value creation by focusing on expanding the Company's platform in each of our core geographies (Canada, United States and Australia); and
• by the end of 2025, defining the next generation of power solutions and technologies and potential for parallel investments in new complementary sectors.
"The Company is actively advancing its development pipeline, which currently consists of 1.2 GW in the United States, up to 2 GW in Canada and 270 MW in Australia. The recently announced acquisition of a 122 MW portfolio of operating solar facilities located in North Carolina, which is expected to close in mid-October, will represent a significant expansion of the Company's solar generation. The Company intends to further expand its solar generation by actively pursuing solar opportunities in the United States and Australian markets. The Company is also focused on pursuing hybrid integrated power solutions with customers," TransAlta said