CALGARY, Alberta - TransAlta Corporation (TSX:TA) (NYSE:TAC) announced that its subsidiary, TransAlta Centralia Generation LLC, received an order from the U.S. Department of Energy mandating that Centralia Unit 2 in Washington State remain available for operation for 90 days until September 13, 2026.
The company stated it will comply with the order and work with the U.S. Department of Energy and Washington state government, according to a press release statement issued Monday.The mandate comes as TransAlta, with a market capitalization of $4 billion, navigates a challenging period marked by revenue declines. The company has maintained dividend payments for 39 consecutive years, currently yielding 1.49%, according to InvestingPro data. For investors seeking deeper insights, InvestingPro offers 8 additional exclusive tips and comprehensive Pro Research Reports covering 1,400+ US equities.
TransAlta is a Canadian power generator with operations across Canada, the United States and Western Australia.
In other recent news, TransAlta Corporation has completed a $350 million bought deal offering of common shares, which was intended to fund the acquisition of two natural gas-fired peaking facilities near Denver, Colorado. This acquisition, part of TransAlta’s strategy to expand its portfolio of contracted power generation assets, involves fully contracted gas assets, although specific details about the facilities or counterparties were not disclosed. The offering was led by CIBC Capital Markets and RBC Capital Markets, with underwriters agreeing to purchase all the common shares for resale to investors. Additionally, BMO Capital has resumed coverage of TransAlta with an Outperform rating and a price target of C$25.00, highlighting the $1 billion Colorado gas power deal as a support for the company’s long-term dividend and free cash flow sustainability. Analyst Ben Pham of BMO Capital maintained the firm’s previous price target of $25.00 when reinstating coverage. These developments reflect TransAlta’s focus on growth and financial stability through strategic acquisitions and equity financing.
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