TransAlta (US:TAC)2022-02-28 22:56Financial Highlights - Adjusted EBITDA increased by 36% from $927 million in 2020 to $1,263 million in 2021[8] - Free Cash Flow increased by 57% from $358 million in 2020 to $562 million in 2021[8] - Free Cash Flow per share increased by 59% from $130 in 2020 to $207 in 2021[8,9] Growth and Strategic Initiatives - 600 MW of growth was announced in 2021, expanding across all 3 operating regions[10] - Renewables and storage accounted for 43% of generation EBITDA in 2021, compared to 35% in 2020[10] - The company has secured 30% of its 5-year Clean Electricity Growth Plan target[13] - The company expects to deliver EBITDA of $1065 - $1185 billion and FCF of $455 - $555 million in 2022[38] Alberta Portfolio and Hedging - The company has hedged 6278 GWh of energy at an average hedge price of $75/MWh for the full year 2022, representing approximately 75% of expected Alberta Gas and Energy Transition production[29] - The company has hedged 50 million GJ of natural gas at $275/GJ, representing approximately 55% of expected Alberta Gas and Energy Transition requirements[29] TransAlta Renewables - TransAlta Renewables reported Adjusted EBITDA of $463 million in 2021, consistent with $462 million in 2020[35] - CAFD was $275 million in 2021, a 10% decrease from $304 million in 2020[35] - The payout ratio was 91% in 2021, compared to 82% in 2020[35]