TransAlta Closes $305 Million Sale of 49% Oklahoma Wind Stake

TransAlta Corporation completed the sale of a 49% interest in its Oklahoma wind portfolio to Ares Infrastructure funds on Thursday, Oct. 22, for $305 million in cash before customary closing adjustments. The portfolio has a stated capacity of 500 megawatts, and TransAlta will retain operational oversight under a long-term asset management agreement.

The portfolio comprises White Rock West, with a stated capacity of 100 MW, and White Rock East and Horizon Hill, each listed at 200 MW. The facilities have long-term contracts with investment-grade counterparties. Associated production tax credits expire in 2034.

TransAlta projected about $60 million in 2026 Adjusted EBITDA for the portfolio, including about $29 million attributable to the 49% interest sold. Those figures are forecasts, not reported results. Adjusted EBITDA is a non-IFRS measure without a standardized meaning.

In a separate transaction completed the same day, TransAlta acquired Mountain Peak Power LLC and Canyon Peak Power LLC from Blackstone for $1 billion. The purchase includes $750 million in senior secured project-level debt. The two fully contracted gas-fired peaking facilities near Denver have a combined capacity of 318 MW.