TransAlta Corp. earned a profit of $27 million in its latest quarter compared with a loss a year ago, helped by strong earnings from its U.S. coal operations and its wind and solar business.
The power generator says it has modified its operating procedures and restricted non-essential access to its facilities due to the COVID-19 pandemic, but they all remain fully operational.
TransAlta’s profit amounted to 10 cents per diluted share for the quarter ended March 31 compared with a loss of $65 million or 23 cents per diluted share a year ago.
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Revenue totalled $606 million for the quarter compared with $648 million in the first three months of 2019.
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The company says it started construction on its Windrise wind farm in April and expects the project to be fully commissioned for second half of 2021 due to a delay in the manufacturing of turbines from one of its suppliers due to COVID-19 pandemic.
TransAlta owns electrical power generation assets in Canada, the United States and Australia.
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