TransAlta Corporation (TSX:TA) is engaged in the production and sale of electric energy since its inception in 1909.
The company claims to provide clean and affordable power to Canada, Australia, Mexico, and the United States.
The energy company was founded as a small and local electricity company focused on constructing an Alberta-based hydroelectricity plant.
The company named itself Calgary Power Company Ltd in 1911.
In 1974, Calgary Power acquired Lethbridge’s generating plant and rebranded itself TransAlta Corporation in 1981.
TransAlta Corporation’s operations consist of more than 70 plants across Canada, Australia, and the United States. The diversified portfolio consists of energy generation facilities using a broad range of fuels like wind, natural gas, thermal coal, water and solar.
TransAlta reportedly focuses on converting seven coal-fired generating units into natural gas-based and providing clean and affordable power as part of its Clean Energy Investment Plan, introduced in 2019.
TransAlta owns renewable energy generation facilities across Canada, including Alberta, Ontario, Winnipeg, etc. In addition, it expanded its presence in British Columbia with the 19 megawatts Bone Creek facility.
In the mid-nineties, the Canadian energy firm entered the Australian resource industry with its operations in the Goldfields to support gold and nickel operations at its Parkeston & Southern Cross facilities.
The Canadian energy company provides energy to Western Australian customers through its facilities connected to the North-West Interconnected System (NWIS), the South-West Interconnected System, and off-grid load customers.
In 2000, TransAlta acquired the Centralia plant, located in Washington State, and entered the US energy industry. Under the TransAlta Energy Transition Bill, signed in 2011, the company reportedly focuses on transitioning the US-based energy facility from coal to natural gas by 2025.
TransAlta has expanded operations to different regions in the United States, including Wyoming, Pennsylvania, Massachusetts and Minnesota. The five facilities in the United States reportedly have the capacity to generate more than 1,500 megawatts of reliable energy from resources like water, wind, solar and coal.
The company has been in the power generation industry for over a century now. It claims to invest in community and employee development initiatives.
TransAlta Corporation claims to generate sustainable cash flows from existing assets and build new clean generation assets through financial discipline and long-term strategy.
The Canadian power company reportedly aims to achieve zero emissions and develop clean electricity by 2025.