TransAlta has been ordered by the Energy Department to keep open for a 90-day period a coal-fired power station in Washington state that had been earmarked for closure. ...

CALGARY, Alberta, Dec. 17, 2025 (GLOBE NEWSWIRE) -- TransAlta Corporation (TransAlta or the Company) (TSX: TA) (NYSE: TAC) confirms that its subsidiary, TransAlta Centralia Generation LLC, has received an order (the Order) from the United States Department of Energy. The Order mandates that Centralia Unit 2 in Washington State remain available for operation, for a period of 90 days, until March 16, 2026. TransAlta is currently evaluating the Order and will work with the state and federal governments in rela ...

Core Viewpoint - The U.S. energy secretary's order to keep a unit of the TransAlta coal power plant operational through winter reflects the Trump administration's ongoing support for fossil fuels [1] Group 1 - The order was signed on Tuesday, indicating a timely response to energy needs during the winter season [1] - The decision to maintain operations at the TransAlta coal power plant highlights the administration's policy direction favoring traditional energy sources over renewable alternatives [1]

Welcome to the Green Stock news brief for Tuesday, December 9th. Here are today's top headlines. Rocket Labs Neutron rocket has successfully completed qualification testing of its innovative Hungry Hippo fairing, which stays attached to the first stage during launch and landing for full reusability.A world first for a commercial rocket. This milestone advances the development of Neutron, the world's largest carbon composite launch vehicle with a 13,000 kilogram payload capacity ahead of its first scheduled ...

CALGARY, Alberta, Dec. 09, 2025 (GLOBE NEWSWIRE) -- Highlights TransAlta to perform coal-to-gas conversion on its Centralia Unit 2 facility in Washington state, with a planned contracted capacity of 700 MWThe converted facility will deliver reliable power to Puget Sound Energy under a long-term, 16-year fixed price contract through Dec. 31, 2044The project is currently projected to deliver a build multiple1 of approximately 5.5 timesThe converted facility maintains TransAlta’s position in its strategic cor ...

Core Viewpoint - TransAlta Corporation is acquiring a 310-megawatt portfolio of four natural gas-fired power plants in Ontario from Far North Power Corp, enhancing its presence in a key market and diversifying its power generation portfolio [1][5]. Company Summary - TransAlta will take over the assets under a definitive share purchase agreement, which were previously stabilized by Hut 8 after their acquisition out of bankruptcy [2]. - The acquisition allows Hut 8 to monetize the assets and refocus its capital on large-scale digital infrastructure development [2][5]. - The portfolio secured five-year capacity contracts through the Ontario Independent Electricity System Operator (IESO) Medium-Term 2 auction, transitioning to long-term revenue commitments and enhancing cash-flow stability [3]. Industry Summary - The acquisition expands TransAlta's operating presence in Ontario, addressing increasing pressure on the provincial grid from electrification and population growth, which necessitates reliable, dispatchable generation [4]. - Hut 8 is strategically shifting its focus towards capital allocation for its multi-gigawatt pipeline of digital infrastructure development opportunities across North America [5].

Core Insights - TransAlta Corporation has entered into a definitive share purchase agreement to acquire Far North Power Corporation for $95 million, enhancing its operations in Ontario with four natural gas-fired generation facilities totaling 310 MW [2][3][4] Acquisition Details - The acquisition price is $95 million, approximately $306 per kilowatt (kW), and will be financed through cash on hand and credit facilities [2][7] - The transaction is expected to close by early first quarter of 2026, subject to customary closing conditions and regulatory approvals [4] Financial Impact - The acquisition is projected to add approximately $30 million of average Adjusted EBITDA per year from the four facilities [4] - The assets will be immediately accretive to free cash flow and cash yield upon closing, with about 68% of the portfolio's gross margin contracted to 2031 [7] Strategic Positioning - This acquisition will enhance TransAlta's competitive position in Ontario, increasing its footprint from 990 MW to 1,300 MW [7] - The company anticipates long-term value from these assets due to their positioning for re-contracting opportunities and the optionality provided by the 167 acres of co-located land [3][4] Company Overview - TransAlta operates a diverse fleet of electrical power generation assets across Canada, the U.S., and Australia, focusing on long-term shareholder value [6] - The company is one of Canada's largest producers of wind and thermal power and has achieved a 70% reduction in GHG emissions since 2015 [6][8]

Core Viewpoint - Hut 8 Corp. has entered into a definitive share purchase agreement with TransAlta Corporation for the acquisition of a 310-megawatt portfolio of four natural gas-fired power plants in Ontario, concluding a multi-phase program aimed at stabilizing and strengthening the portfolio after its acquisition out of bankruptcy [1][2]. Company Overview - Hut 8 Corp. is an energy infrastructure platform that integrates power, digital infrastructure, and compute at scale, focusing on next-generation, energy-intensive use cases. The company manages 1,020 megawatts of energy capacity and has 1,530 megawatts under development across 19 sites in the U.S. and Canada [6][7]. Transaction Details - The transaction involves the sale of a portfolio that has transitioned from short-term, seasonal arrangements to long-term, investment-grade-backed revenue commitments, significantly enhancing cash-flow stability [2][3]. - Hut 8 executed operational and commercial measures to re-establish the assets as revenue-generating facilities, securing five-year capacity contracts through the Ontario IESO Medium-Term 2 auction [2][3]. Strategic Focus - Hut 8's management indicated that while the power generation assets are attractive, they are not core to the company's current strategy, which is focused on high-return opportunities within its development pipeline. The capital redeployed from this transaction will support those opportunities [4][3]. - The company continues to pursue a multi-gigawatt pipeline of power-first digital infrastructure development opportunities across North America [3][4]. TransAlta's Perspective - TransAlta views the acquisition as a means to enhance its position in Ontario through contracted and complementary assets, emphasizing the importance of reliable power generation for grid stability amid electrification and population growth [5].

Group 1 - The article does not provide any relevant content regarding company or industry insights [1]

Financial Data and Key Metrics Changes - The company reported adjusted EBITDA of CAD 238 million, a decrease of CAD 77 million compared to the third quarter of 2024, primarily due to lower Alberta and Mid-C power prices and subdued market volatility [17][18] - Free cash flow for the quarter was CAD 105 million, down CAD 26 million year-over-year [20] - Average fleet availability was reported at 92.7% [6] Business Line Data and Key Metrics Changes - Hydro segment adjusted EBITDA decreased to CAD 73 million from CAD 89 million due to lower spot power prices and reduced ancillary services revenue [18] - The gas segment's adjusted EBITDA fell to CAD 110 million from CAD 141 million, impacted by lower realized power prices and higher carbon pricing, partially offset by the addition of Heartland assets [19] - The energy transition segment delivered adjusted EBITDA of CAD 28 million, a decrease of CAD 6 million year-over-year [19] Market Data and Key Metrics Changes - The average spot price in Alberta for the third quarter was CAD 51 per megawatt hour, down from CAD 55 per megawatt hour in 2024 [20] - The company realized benefits from hedging strategies, with approximately 2,500 gigawatt hours hedged at an average price of CAD 66 per megawatt hour, representing a 29% premium to the average spot price [21] Company Strategy and Development Direction - The company is focused on progressing its legacy thermal opportunities, including data center projects in Alberta and the Centralia project in Washington [6][7] - The Alberta restructured energy market (REM) is expected to enhance system reliability and provide better price signals for generators, with an anticipated increase in the provincial price cap [12][13] - The company aims to maximize the value of its legacy thermal energy campuses and pursue strategic M&A opportunities [26][27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving 2025 guidance despite tracking towards the lower end of the adjusted EBITDA range [6][25] - The company is optimistic about the data center opportunity in Alberta and its potential for economic growth [11][12] - Management highlighted the importance of regulatory clarity regarding the Clean Electricity Regulations and the Alberta government's commitment to developing a data center industry [60] Other Important Information - The company completed the sale of a 100% interest in the Poplar Hill facility and a 50% interest in the Rainbow Lake facility as part of the Heartland Generation acquisition [9] - The company announced the retirement of its CEO, effective April 30, 2026, with the current CFO expected to succeed him [15][16] Q&A Session Summary Question: What is driving the slower discussions regarding customers for the data centers in Alberta? - Management remains confident in progressing the data center opportunity, noting that it is a significant initiative requiring time to finalize details with multiple parties involved [33][34] Question: What is the timeline for moving from MOU to a binding agreement for the data center project? - Management aims to move quickly once the MOU is in place, with expectations for a faster timeline than the MOU process [38][39] Question: How is the company addressing the underutilized coal-to-gas conversion units in relation to phase two? - Management believes that underutilized generation can serve as incremental supply for data centers, emphasizing the importance of speed in meeting future energy needs [41][42] Question: What clarity is needed regarding phase two for finalizing agreements? - Management seeks clarity on the bringing-incremental-power concept and the role of legacy facilities in the context of phase two [72][73] Question: What are the expectations regarding federal policy changes and their impact? - Management is actively engaging with the federal government on the Clean Electricity Regulations and is modeling various scenarios for carbon pricing [64][65]