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TransAlta buying cogeneration plant in Michigan for US$27 million

A woman walks towards the entrance of the TransAlta headquarters building in Calgary, on Tuesday, April 29, 2014. THE CANADIAN PRESS/Larry MacDougal

TransAlta Corp. has acquired a cogeneration facility in Michigan from two private companies for approximately US$27 million.

TransAlta chief executive Dawn Farrell says the deal marks the company’s first U.S. cogeneration project.

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It includes a single GE LM2500 gas turbine and an ABB steam turbine.

The facility, which has been operational since 1991, is contracted under a long-term power purchase agreement and steam sale agreement for approximately six years.

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The acquisition is subject to customary regulatory approvals and is expected to close in the second quarter of 2020.

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TransAlta owns electrical power generation assets in Canada, the United States and Australia.

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