TransAlta Buys U.S. Wind And Solar Farms From Rockland Capital

(Bloomberg) — TransAlta Corp., a Canadian electricity
producer, agreed to buy 71 megawatts of renewable-energy assets
in the U.S., including its first solar projects, for $75.8
million.

The company will also assume $41.8 million of tax-equity
obligations and non-recourse project debt, Calgary-based
TransAlta said in a statement Monday. It expects to close the
deal with Rockland Capital LLC in late September.

The deal comprises 21 megawatts of solar power in
Massachusetts, TransAlta’s first investment in that technology,
and 50 megawatts of wind energy in Minnesota. The installations
each have long-term power purchase agreements ranging from 20 to
30 years.

TransAlta may later sell the power plants to TransAlta
Renewables Inc.
, a clean-energy holding company designed to
produce steady dividends for investors.

To contact the reporter on this story:
Christopher Martin in New York at
cmartin11@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Will Wade, Susan Warren

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