TransAlta Acquires Heartland Generation from Energy Capital Partners
November 2, 2023
TransAlta Corporation entered a definitive agreement to acquire Heartland Generation and affiliated Alberta Power assets from an affiliate of Energy Capital Partners for approximately C$658 million inclusive of assumed debt (C$390 million purchase price plus C$268 million debt). The acquisition adds ~1,844 MW of flexible generation (cogeneration, peaking and gas-fired thermal), is expected to be immediately accretive to cash flow and deliver corporate pre-tax synergies of about C$20 million annually, and supports TransAlta's strategy to expand flexible capacity to meet Alberta's energy transition and reliability needs.
- Buyers
- TransAlta Corporation
- Targets
- Heartland Generation Ltd.
- Sellers
- Energy Capital Partners (affiliate)
- Industry
- Energy
- Location
- Alberta, Canada
- Transaction Type
- Buyout
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