TransAlta's Geothermal Partnership CalEnergy Signs 24-Year Contract: Continued Investment in Renewable Energy

TransAlta's Geothermal Partnership CalEnergy Signs 24-Year Contract: Continued 
Investment in Renewable Energy 
CALGARY, ALBERTA -- (Marketwired) -- 09/17/13 -- TransAlta
Corporation (TSX:TA)(NYSE:TAC) announced today that CalEnergy, LLC, a
joint venture it has with MidAmerican Energy Holdings Company, has
executed a 50 MW long-term contract for renewable geothermal power
with Salt River Project (SRP), an Arizona utility.  
Highlights of Salt River Project and CalEnergy Contract: 


 
--  Duration of power purchase agreement is 24 years, or 2016 to 2039; 
--  SRP contract reflects 15% of the capacity of CalEnergy's geothermal
    facilities, bringing the total contracted capacity to 40%; 
--  CalEnergy continues its work to market the remainder of the capacity
    from the 10 geothermal facilities, as the existing contracts roll off;
    and 
--  Through CalEnergy, TransAlta continues to invest in renewable power
    options for customers.

 
Bringing Value to Customers and Shareholders:  
One of TransAlta's strategic approaches to balance sheet strength
remains execution of long term contracts for its assets, which
provides reliability of power and price for its customers, while also
providing a consistent return on investment for shareholders. 
Highlights of Other Recent Contract Executions: 


 
--  In August, TransAlta announced the recontracting of its Ottawa gas plant
    (Central Canada) with the Ontario Power Authority, 20 year long term
    contract, 71.8 MW; 
--  In June, CalEnergy (Western U.S.) announced the first long-term contract
    under a new remarketing strategy with the City of Riverside in
    California, 24 year contract, 86 MW; 
--  Also in June, TransAlta announced for the Centralia Plant (Western
    U.S.); an 11 year contract signed with Puget Sound Energy (PSE), PSE
    will acquire 180 MW of firm, base-load coal transition power starting in
    December 2014. In the following 12 months the contract increases to 280
    MW. From December 2016 to December 2024, the contract is for 380 MW, and
    volume drops to 300 MW in the last year.

 
Related content:  
CalEnergy 
- TransAlta's Imperial Valley Operations  
- Announcement of May 17, 2013: New Special Purpose Entity to Extend
Life of CalEnergy Geothermal Facilities: MidAmerican and TransAlta
U.S. Announce CalEnergy, LLC  
- Announcement of June 18, 20130: TransAlta Announces Long-Term
Geothermal Contract with City of Riverside / TransAlta 
Recent Contract Announcements 
- TransAlta Recontracts Ottawa Gas Plant Under Long Term Agreement,
Aug 30 2013  
- TransAlta Announces Regulatory Approval of Long-term Contract
between Puget Sound Energy and Centralia, Jun 26 2013 
TransAlta is a power generation and wholesale marketing company
focused on creating long-term shareholder value. TransAlta maintains
a low-to-moderate risk profile by operating a highly contracted
portfolio of assets in Canada, the United States and Australia.
TransAlta's focus is to efficiently operate geothermal, wind, hydro,
natural gas and coal facilities in order to provide customers with a
reliable, low-cost source of power. For over 100 years, TransAlta has
been a responsible operator and a proud contributor to the
communities in which it works and lives. TransAlta has been selected
by Jantzi-Sustainalytics as one of Canada's Top 50 Socially
Responsible Companies since 2009 and is recognized globally for its
leadership on sustainability and corporate responsibility standards
by FTSE4Good.  
This news release may contain forward looking statements, including
statements regarding the business and anticipated financial
performance of TransAlta Corporation. These statements are based on
TransAlta Corporation's belief and assumptions based on information
available at the time the assumption was made. These statements are
subject to a number of risks and uncertainties that may cause actual
results to differ materially from those contemplated by the
forward-looking statements. Some of the factors that could cause such
differences include legislative or regulatory developments,
competition, global capital markets activity, changes in prevailing
interest rates, currency exchange rates, inflation levels, commodity
prices and general economic conditions in geographic areas where
TransAlta Corporation operates.
Contacts:
Investor inquiries: TransAlta Corporation
Brent Ward
Director, Corporate Finance and Investor Relations
1-800-387-3598 in Canada and U.S.
investor_relations@transalta.com 
Media inquiries: TransAlta Corporation
Stacey Hatcher
Senior Corporate Relations Advisor
Cell: 587-216-2242
Toll-free media number: 1-855-255-9184
Alternate local number: 403-267-2540
 
 
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