Reported Earlier, TransAlta To Acquire Heartland Generation From Energy Capital Partners For $658M, Expands Capabilities To Meet Demands Of Energy Transition
Portfolio Pulse from Benzinga Newsdesk
TransAlta Corporation (NYSE:TAC) has announced its plan to acquire Heartland Generation Ltd. from Energy Capital Partners for approximately $658 million. The deal includes the assumption of $268 million of low-cost debt. The acquisition will add 1,844 MW of flexible capacity to TransAlta's portfolio, including contracted cogeneration, peaking generation, transmission capacity, and development opportunities in hydrogen. The transaction is expected to close in the first half of 2024.
November 02, 2023 | 6:29 pm
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TransAlta's acquisition of Heartland Generation is expected to enhance its portfolio and competitive positioning in Alberta's energy market. The deal is also expected to be highly accretive to free cash flow and cash yield upon closing.
The acquisition of Heartland Generation will add significant flexible capacity to TransAlta's portfolio, which is expected to enhance its competitive positioning in Alberta's energy market. The deal is also expected to be highly accretive to free cash flow and cash yield upon closing, which could positively impact the company's stock price in the short term.
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