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TransAlta buying cogeneration plant in Michigan for US$27 million

TransAlta buying cogeneration plant in Michigan for US$27 million | iNFOnews.ca
A woman walks towards the entrance of the TransAlta headquarters building in Calgary, on Tuesday, April 29, 2014.THE CANADIAN PRESS/Larry MacDougal

CALGARY – TransAlta Corp. has acquired a cogeneration facility in Michigan from two private companies for approximately US$27 million.

TransAlta chief executive Dawn Farrell says the deal marks the company’s first U.S. cogeneration project.

It includes a single GE LM2500 gas turbine and an ABB steam turbine.

The facility, which has been operational since 1991, is contracted under a long-term power purchase agreement and steam sale agreement for approximately six years.

The acquisition is subject to customary regulatory approvals and is expected to close in the second quarter of 2020.

TransAlta owns electrical power generation assets in Canada, the United States and Australia.

This report by The Canadian Press was first published March 17, 2020.

Companies in this story (TSX:TA)

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