CALGARY, AB, July 22, 2020 /CNW/ - TransAlta Corporation
("TransAlta" or the "Company") (TSX: TA) (NYSE: TAC) announced that
it gave notice today to the Alberta Electric System Operator
("AESO") of its intention to retire the currently mothballed
coal-fired Sundance Unit 3 effective July
31, 2020. The retirement decision was largely driven
by TransAlta's assessment of future market conditions, the age and
condition of the unit, and our ability to supply energy and
capacity from our generation portfolio in Alberta.
This decision advances the Company's transition to 100 per cent
clean electricity by 2025. TransAlta continues to operate a highly
diversified and low-cost fleet of generation assets that is
well-positioned to service the electricity demands of
Albertans.
About TransAlta Corporation:
TransAlta owns, operates and develops a diverse fleet of
electrical power generation assets in Canada, the United
States and Australia with a
focus on long-term shareholder value. TransAlta provides
municipalities, medium and large industries, businesses and utility
customers with clean, affordable, energy efficient and reliable
power. Today, TransAlta is one of Canada's largest producers of wind power and
Alberta's largest producer of
hydroelectric power. For over 100 years, TransAlta has been a
responsible operator and a proud community-member where its
employees work and live. TransAlta aligns its corporate goals with
the UN Sustainable Development Goals and has been recognized by CDP
(formerly Climate Disclosure Project) as an industry leader on
Climate Change Management. TransAlta is proud to have achieved the
Silver level PAR (Progressive Aboriginal Relations) designation by
the Canadian Council for Aboriginal Business.
For more information about TransAlta, visit its web site at
transalta.com.
Forward-Looking Statements
This News Release includes "forward-looking information",
within the meaning of applicable Canadian securities laws, and
"forward-looking statements", within the meaning of applicable
United States securities laws,
including the United States Private Securities Litigation Reform
Act of 1995 (collectively referred to herein as "forward-looking
statements"). In particular, this News Release contains
forward-looking statements including, but not limited
to, statements relating to: TransAlta becoming a 100 per cent
clean electricity company by 2025; TransAlta continuing to operate
a highly diversified and low cost fleet of generation assets; the
Company being well positioned to service the electricity demands of
Albertans; and the fleet being positioned to generate strong cash
flows and be competitive in Alberta's energy-only market over the long
term. The material factors and assumptions used in the preparation
of the forward-looking statements contained herein, which may prove
to be incorrect, include, but are not limited to, assumptions
pertaining to the future market conditions in Alberta and competitive environment.
Factors that may adversely impact what is expressed or implied by
forward-looking statements contained in this News Release include,
but are not limited to, risks relating to the supply and demand for
electricity within Alberta and
other risk factors contained in the Company's Annual
Information Form and Management's Discussion and Analysis for the
year end dated December 31,
2019. Readers are cautioned not to place undue reliance on the
forward-looking statements, which reflect the Company's
expectations only as of the date hereof. TransAlta disclaims
any intention or obligation to publicly update these
forward-looking statements to reflect new information, future
events or otherwise, except as required by applicable laws.
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SOURCE TransAlta Corporation