TransAlta to Supply Meta Platforms with Renewable Energy
April 05 2022 - 7:04AM
Dow Jones News
By Adriano Marchese
TransAlta Corp. said Tuesday that it would provide renewable
energy to Meta Platforms Inc. from a wind-power project in Oklahoma
currently under development.
The Canadian electricity power generator said it has entered
into a long-term renewable energy purchase agreement with Meta,
formerly known as the Facebook, Inc., for the offtake generation of
its 200-megawatt Horizon Hill facility, a late-stage development
project located in Logan County, Okla.
The construction of the facility is expected to begin in the
fourth quarter of this year and would consist of 34 Vestas
turbines, with a commercial operation date set for the second half
of 2023.
The total project capital is estimated to be $290 million to
$310 million and is expected to generate total annual earnings
before interest, taxes, depreciation, and amortization of $27
million to $30 million, including production tax credits.
With Horizon Hill, TransAlta would achieve 40% of its target of
adding two gigawatts of new renewable energy by 2025 under its
Clean Electricity Growth Plan, TransAlta President and Chief
Executive Officer John Kousinioris said.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
April 05, 2022 07:49 ET (11:49 GMT)
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