CALGARY, AB, July 19, 2021 /PRNewswire/ - TransAlta
Corporation (TSX: TA) (NYSE: TAC) ("TransAlta" or the "Company")
announced today that it has completed the second of three planned
coal-to-gas conversions at its Alberta Thermal power generation
facilities near Wabamun,
Alberta.
"The full conversion of Keephills Unit 2 ("KH2") from thermal
coal to natural gas is another significant milestone for TransAlta
as it transitions off coal. We are pleased to have completed
another step in our plan towards 100 per cent clean electricity by
end of 2021 in Alberta," said
John Kousinioris, President and CEO
of TransAlta. "Converting to natural gas from coal maintains our
current generation capacity and reduces our CO2
emissions by more than half from approximately 1.04 tonnes
CO2e per MWh to approximately 0.51 tonnes
CO2e per MWh in 2021. This not only highlights
TransAlta's commitment to meet Alberta's need for safe, reliable and low-cost
electricity but also our commitment to meet our sustainability
goals focused on clean electricity generation."
With $31.5 million invested in the
KH2 conversion and another $64.7
million for system upgrades, gas infrastructure and
maintenance projects, the over $96
million investment in the project was also a significant
boost to the economy, locally and across Canada. At its peak, nearly 800 additional
jobs were created to complete the KH2 conversion.
The conversion of KH2 to gas is the Company's second conversion
project following the successful conversion of Sundance Unit 6
("SD6") in February 2021. Both SD6
and KH2 will maintain the same generator nameplate capacity of 401
MW and 395 MW, respectively. Later this year, the Company will also
complete the conversion of Keephills Unit 3.
This project is another step on TransAlta's path to achieving
our target to reduce 60 per cent, or 19.7 million tonnes, of annual
greenhouse gas emissions by 2030 over 2015 levels and achieve
carbon neutrality by 2050. By meeting our 2030 target, our
performance will exceed Canada's
Paris Agreement level targets of 40 - 45 per cent reduction by
2030. To date, TransAlta has delivered 25 million tonnes of annual
greenhouse gas reductions, representing approximately 8 per cent of
Canada's goal of reducing between
292 – 329 million tonnes from 2005 levels by 2030. This
achievement, coupled with TransAlta's diversified generating
portfolio, including extensive hydro and wind assets, positions the
Company to be a highly competitive provider of low carbon
electricity.
About TransAlta Corporation:
TransAlta owns,
operates and develops a diverse fleet of electrical power
generation assets in Canada,
the United States and Australia with a focus on long-term
shareholder value. TransAlta provides municipalities, medium and
large industries, businesses and utility customers clean,
affordable, energy efficient, and reliable power. Today, TransAlta
is one of Canada's largest
producers of wind power and Alberta's largest producer of hydroelectric
power. For over 100 years, TransAlta has been a responsible
operator and a proud community-member where its employees work and
live. TransAlta aligns its corporate goals with the UN Sustainable
Development Goals and we have been recognized by CDP (formerly
Climate Disclosure Project) as an industry leader on Climate Change
Management, having recently achieved an A- score from CDP.
For more information about TransAlta, visit our website at
transalta.com.
Cautionary Statement Regarding Forward-looking
Information
This news release contains forward looking statements within
the meaning of applicable securities laws. The use of any of the
words "continue", "will", "anticipate", "believe", "expects",
"intend" and similar expressions are intended to identify forward
looking information or statements. More particularly, and without
limitation, this news release contains forward looking statements
and information relating to: the reduction of our
CO2 emissions at KH2 to 0.51 CO2e per
MWh; the conversion of Keephills Unit 3 in 2021;
SD6 and KH2 maintaining the same generator nameplate capacity of
401 MW and 395 MW respectively; and the Company being
positioned to be a highly competitive provider of low carbon
electricity for the market and its customers. These forward looking
statements are based on a number of assumptions considered by the
Company to be reasonable as of the date of this news release, and
are subject to a number of risks and uncertainties that may cause
actual performance, events or results to differ materially from
those contemplated by the forward looking statements,
which include: changes to climate policy; equipment failure;
the competitive environment; changes to the labour market; any
delays or cost overruns associated with the conversion to be
undertaken at Keephills Unit 3; changes in the law or political
developments; and other risk factors contained in
the Company's Annual Information Form and Management's
Discussion and Analysis for the year end dated December 31, 2020, filed under the Company's
profile with the Canadian securities regulators on www.sedar.com
and the U.S. Securities and Exchange Commission on www.sec.gov.
Readers are cautioned not to place undue reliance on this
forward-looking information, which is given as of the date it is
expressed in this news release. The Company undertakes no
obligation to update or revise any forward-looking information
except as required by law. For additional information on the
assumptions made, and the risks and uncertainties which could cause
actual results to differ from those in the forward looking
information, refer to the Company's Annual Report and Management's
Discussion and Analysis filed under the Company's profile on SEDAR
at www.sedar.com and with the U.S. Securities and Exchange
Commission at www.sec.gov.
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SOURCE TransAlta Corporation