Post by account_disabled on Feb 17, 2024 4:43:06 GMT -7
Portfolio from transalta corporation consisting of: a 100% direct interest in the 207 mw windrise wind project located in the municipal district of willow creek, alberta; a 49% economic interest in the operating 137 mw skookumchuck wind facility located in thurston and lewis counties in washington state; and a 100% economic interest in the operating 29 mw ada cogeneration facility located in ada, michigan. According to john kousinioris, president of transalta renewables. “we are pleased to announce our acquisition of windrise and economic interests in the skookumchuck and ada wind cogeneration assets . This enhances our position in the renewable energy sector in both canada and the us. The total acquisition price as announced by transalta renewables for the asset portfolio is $439 million, which includes the remaining construction costs of the windrise wind project. The company will fund the cash consideration for the acquisition and the remaining construction costs with the proceeds from the financing of the south hedland project completed earlier this year.
The transaction will close in separate tranches in early 2021 subject to the satisfaction of certain closing conditions; however, the economic benefit of the transaction will be considered effective as of january 1, 2021. Recommended reading: scientists develop recyclable material for wind turbine blades that 'could transform the wind industry' investment highlights total acquisition value of $359 million payable as of december 31, 2020 along with the obligation to fund the balance of remaining construction costs for the windrise wind project; adds 303 mw of net power to installed capacity; long Phone Number Dataterm contracted portfolio with a remaining average contract life of 19 years with high investment grade counterparties; increases the average contracted life of the fleet from 10 to 12 years; and the annual ebitda contribution of the assets to the company is estimated to be approximately $45 million, including production tax credits. All figures quoted are in canadian dollars. Portfolio summary windrise is a 207 mw wind project under construction located in the municipal district of willow creek, alberta. The wind facility has a renewable support agreement signed with the alberta electric system operator to provide wind electricity to the province for a period of 20 years. The project is on track to reach commercial operation during the second half of 2021.
Skookumchuck is an operating 137 mw wind facility located in thurston and lewis counties in washington state. The wind facility began commercial operations on november 7, 2020 and has a 20-year power purchase agreement with puget sound energy inc. Transalta renewables will acquire an economic ownership interest of 49 percent of transalta corporation (net of equity tax) through monitoring the share structure. Income distributions to the company will be net of cash and tax attributes provided to the investor. Ada is an operating 29 mw cogeneration facility located in ada, michigan. The cogeneration facility began commercial operations in 1991 and has a power purchase agreement and a steam sales agreement for a remaining period of five years with consumers energy and amway. Transalta renewables will acquire transalta corporation's economic interest in the asset through a follow-on share structure. About transalta renewables inc. Transalta renewables is among canada 's publicly traded independent renewable energy producers ("Ipps") .