TransAlta Sets $3.5B Investment for 1.75 GW Growth, Targets $350M Annual EBITDA by 2028, Boosts Dividend by 9%
Portfolio Pulse from Benzinga Newsdesk
TransAlta Corporation has announced an investment plan of $3.5 billion to achieve a growth target of 1.75 GW by 2028, aiming for an annual EBITDA of $350 million. The company will focus on customer-centered renewables and storage, expanding its development pipeline to 10 GW. Additionally, TransAlta's Board has approved a 9% dividend increase. A joint development agreement with Hancock Prospecting has been announced to develop clean energy solutions. The company forecasts an adjusted EBITDA of $1.15 to $1.3 billion and FCF of $450 to $600 million for 2024.
November 21, 2023 | 12:21 pm
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TransAlta Corporation plans to invest $3.5 billion for growth, targets $350 million annual EBITDA by 2028, and increases dividends by 9%. Forecasts for 2024 include an adjusted EBITDA of $1.15 to $1.3 billion and FCF of $450 to $600 million.
The announcement of a significant investment in growth and a dividend increase is likely to be viewed positively by investors, signaling confidence in the company's future prospects. The partnership for clean energy solutions may also be seen as a strategic move to position the company in a growing market. The positive financial outlook for 2024 could further bolster investor sentiment.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100