CALGARY, AB, Feb. 1, 2021 /CNW/ - TransAlta Corporation (TSX:
TA) (NYSE: TAC) ("TransAlta" or the "Company") announced today that
it has completed the first of three planned coal-to-gas ("CTG")
boiler conversions at its Sundance
and Keephills power generation
facilities near Wabamun,
Alberta.
"The full conversion of Sundance Unit 6 from thermal coal to
natural gas is a significant landmark for TransAlta on its journey
to transition off coal towards 100 per cent clean electricity,"
says Dawn Farrell, President and CEO
of TransAlta. "Converting to natural gas from coal reduces our
CO2 emissions by half from approximately 1.05 tonnes
CO2e per MWh to approximately 0.52 tonnes CO2e per MWh in 2021, and
highlights TransAlta's commitment to meet our own, and our
customers', E2SG needs."
With $35 million invested in the
Sundance Unit 6 ("Sun-6") boiler conversion and another
$50 million for upgrades to the
unit's Distributed Control System and scheduled major maintenance,
the $85 million total investment in
the project is also a significant boost to the economy, locally and
across Canada. At its peak, nearly
700 additional jobs were created to complete the Sun-6 conversion,
system upgrades and maintenance projects.
In 2021, TransAlta will complete its second and third CTG
conversions with Keephills Unit 2 by mid-June, followed by
Keephills Unit 3 by mid-December. In addition, TransAlta will have
significantly advanced the repowering of its Sundance 5 unit into a highly efficient
combined-cycle facility. By January 1,
2022, TransAlta's Alberta
thermal fleet will be fueled completely by natural gas and entirely
off coal. Once converted to gas, the units are anticipated to be
able to run through to 2031 to 2039 – a significant lengthening of
their asset lives.
TransAlta is on track to reduce its emissions by more than 70
per cent from 2005 levels by the end of 2022. 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 for the market and its
customers.
About TransAlta:
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 with 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 hydro-electric
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 has 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 its website at
transalta.com.
Forward-Looking Statements:
This news
release contains forward looking statements within the meaning of
applicable securities laws. The use of any of the words "continue",
"may", "will", "propose", 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 Sun-6 by half from
approximately 1.05 tonnes CO2e per MWh to approximately 0.52 tonnes
CO2e per MWh in 2021; total cost for the CTG being equal to
approximately $85 million; completing
the Keephills Unit 2 and Keephills Unit 3 CTGs and the timing
thereof; significantly advancing the repowering of its Sundance 5 unit into a highly efficient
combined-cycle facility; by January 1,
2022, TransAlta's Alberta
thermal fleet will be fueled completely by natural gas; the
converted units asset lives being extended as a result of the
conversion; the Company reducing its emissions by more than 70 per
cent from 2005 levels by the end of 2022; 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,
including, but not limited to, the following: the terms of the new
climate policies and the impact of COVID-19 on the Company's CTG
projects. . The forward looking statements 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; the competitive
environment; changes to the labour market; delays or cost
overruns associated with the conversions to be undertaken at
Keephills Unit 2 or 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, 2019, 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