TransAlta to move ahead on 300-MW US wind project after offtake deal

Canadian power generator TransAlta Corp (TSE:TA) on Wednesday said it will move ahead with building a 300-MW two wind farm complex in Oklahoma after signing two long-term power purchase agreements (PPAs) for the offtake of its entire generation.

The renewable electricity and environmental attributes from the White Rock East and White Rock West wind projects have been contracted to a new customer with an AA credit rating from S&P Global Ratings, according to the announcement. The name of the customer was not disclosed.

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White Rock East and West will be located in Caddo County and will together consist of 51 Vestas turbines. Construction is scheduled to start in late 2022, with commercial operation targeted in the second half of 2023.

TransAlta will construct, operate and own the wind park, which is estimated to cost between USD 460 million (EUR 407m) and USD 470 million to build. The company expects to fund construction with existing liquidity and tax equity. It has fixed price contracts for the turbine supply with Vestas Wind Systems A/S (CPH:VWS) and the engineering, procurement and construction (EPC) work with MA Mortenson Company.

(USD 1 = EUR 0.885)