CorporatePower and heat generation
TransAlta sells part of Oklahoma wind portfolio and buys Colorado gas plants
TransAlta completed a minority-interest sale in its Oklahoma wind assets and acquired two contracted gas peaking facilities in Colorado.
- Event
- First published on EPC Feed
- Sources
- 2 listed below
- Reading time
- 2 min
TransAlta announced two completed U.S. portfolio transactions. It sold a 49 per cent interest in a 500 MW Oklahoma wind portfolio to Ares Infrastructure funds for US$305 million before closing adjustments, retaining operational oversight under a long-term asset-management agreement. The assets are White Rock West, White Rock East and Horizon Hill.
It also completed the US$1.0 billion purchase of Mountain Peak Power and Canyon Peak Power from Blackstone. That amount includes the assumption of US$750 million of project-level debt; the two acquired gas-fired peaking facilities near Denver total 318 MW and are fully contracted.
TransAlta said the sale proceeds would strengthen its balance sheet and support growth opportunities, including the Centralia conversion and Alberta data-centre projects. These were stated uses, not separately committed budgets. For the Oklahoma assets, the company cited long-term contracts with investment-grade counterparties and production tax credits scheduled to expire in 2034. Its 2026 adjusted EBITDA estimate for the whole portfolio was approximately US$60 million, including about US$29 million attributable to the 49 per cent interest sold; adjusted EBITDA is a non-IFRS measure.
The company’s White Rock profile supplies operating history for part of the portfolio. It groups White Rock East and West as the White Rock Wind Project, describes 51 Vestas turbines, and dates commercial operations to April 2024. The page identifies TransAlta as operator and lists long-term contracted revenue; it calls White Rock the company’s sixth and seventh U.S. wind facilities. After the announced transaction it shows TransAlta holding 51 per cent. Those details place the sale in an established operating asset, rather than a project still being built. The announcement does not report new construction or an EPC award.
The profile’s commercial details help explain the retained operating role: TransAlta lists White Rock as a long-term-contracted, company-operated asset and identifies it among the company’s U.S. wind facilities. It also describes the combined East and West site near Caddo County and records the project’s 2024 start of commercial operations. The profile’s current 51 per cent ownership display is consistent with a 49 per cent interest sold, although the transaction release remains the basis for the sale consideration and portfolio capacity figures.
Sources
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