M&A Deal Summary

TransAlta Acquires TransAlta Renewables

On July 11, 2023, TransAlta acquired renewable energy company TransAlta Renewables for 800M CAD

Acquisition Highlights
  • This is TransAlta’s 2nd transaction in the Renewable Energy sector.
  • This is TransAlta’s 4th largest (disclosed) transaction.
  • This is TransAlta’s 2nd transaction in Canada.
  • This is TransAlta’s 2nd transaction in Alberta.

M&A Deal Summary
Date 2023-07-11
Target TransAlta Renewables
Sector Renewable Energy
Buyer(s) TransAlta
Deal Type Add-on Acquisition
Deal Value 800M CAD
Advisor(s) National Bank Financial
TD Securities (Financial)
Stikeman Elliott (Legal)

Target

TransAlta Renewables

Calgary, Alberta, Canada
TransAlta Renewables is a renewable independent power producer ("IPP") in Canada. TransAlta asset platform and economic interests are diversified in terms of geography, generation and counterparties and consist of interests in 23 wind facilities, 13 hydroelectric facilities, seven natural gas generation facilities, one solar facility, one natural gas pipeline, and one battery storage project, representing an ownership interest of 2,537 megawatts of owned generating capacity, located in the provinces of British Columbia, Alberta, Ontario, Québec, New Brunswick, the States of Wyoming, Massachusetts, Minnesota and the State of Western Australia. TransAlta Renewables was founded in 2013 and is based in Calgary, Alberta.

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Buyer(S) 1

Buyer

TransAlta

Calgary, Alberta, Canada
Category Company
Founded 1909
Sector Utilities
Employees1,257
Revenue 3.4B CAD (2023)
DESCRIPTION

TransAlta is a power generation and wholesale marketing company focused on creating long-term shareholder value. TransAlta’s focus is to efficiently operate wind, hydro, natural gas and coal facilities in order to provide customers with a reliable, low-cost source of power. TransAlta was incorporated in 1909 and is based in Calgary, Alberta.

DEAL STATS #
Overall 3 of 4
Sector (Renewable Energy) 2 of 2
Type (Add-on Acquisition) 3 of 4
State (Alberta) 2 of 3
Country (Canada) 2 of 3
Year (2023) 1 of 2
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-23 TransAlta - Three MW Portfolio

Calgary, Alberta, Canada

TransAlta Corp. - 303 MW Portfolio includes Windrise is a 207 MW wind project under construction located in Municipal District of Willow Creek, Alberta. Skookumchuck is a 137 MW wind facility in operation located across Thurston and Lewis Counties in Washington State. Ada is a 29 MW cogeneration facility in operation located in Ada, Michigan.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-02 Heartland Generation

Calgary, Alberta, Canada

Heartland Generation is a power generation company. Heartland Generation provides more than 2,660 MW of safe, reliable and affordable electricity to industrial, commercial and residential customers. Heartland Generation was founded in 2019 and is based in Calgary, Alberta.

Buy $658M
Mergr

Product

Company

Legal