TransAlta, owner, developer, and also operator of electrical power generation assets across Canada, the U.S., and Australia, announced this Tuesday its plans to boost its renewable energy capacity. The company released a series of targets that strengthened its commitment to clean energy delivery.
Firstly, the strategic growth targets include adding 2 GW of new capacity to the company’s fleet. To achieve such a goal, it will invest $3 billion for developments, construction, and acquisition of new assets, by the end of 2025.
For this target, the company has a firm step. In fact, already this year announced 300 megawatts in new build projects and asset acquisitions; it also has 500MW of further capacity in late stages of development.
Moreover, the company also established a goal of growing its customer-centered renewables and storage through its 3 GW development pipeline; by 2025, TransAlta will expand such capacity to 5GW. Such growth would enable a two-fold increase in its renewables fleet by 2030.
Additionally, by the end of 2025, the company will define a whole new generation of power solutions and technologies. Those will be paired by parallel investments in new complementary sectors.
Also recommended for you: Ormat and PT Archi to form JV for Indonesian geothermal developments. Click here to read.
BoD of TransAlta approves 11% dividend increase
Furthermore, as outlined above, TransAlta is moving forward with its growth plans. Currently, its operating pipeline consists of 1.2 GW in the United States, up to 2 GW in Canada, and also 270 MW in Australia. For its United states capacity, the company will soon add significant power. Recently announced the acquisition of a 122 MW portfolio of operating solar facilities in North Carolina.
On the other hand, John Kousinioris, President and Chief Executive Officer of TransAlta, said. “We have significant growth aspirations across Canada, the United States, and Australia, with a focus on renewable and storage power solutions for large customers.”
He also remarked. “As we look forward to 2025, we are confident in our investment strategy and the decision to expand further into contracted renewables with onshore wind, solar, and battery storage across our platform.”
Finally, the company announced an 11% increase in its common share dividend. It will be a $0,05 per common share increase, payable on January 1, 2022. “This decision represents the third dividend increase by the Company in the past two years and reflects the Board’s confidence in the Company’s strategic direction.” Concluded John Kousinioris.
