TransAlta Signs MOU to Power 1 GW Data Centre Hub at Keephills Site

TransAlta ( (TSE:TA) ) has provided an update.

TransAlta Corporation has signed a memorandum of understanding with Canada Pension Plan Investment Board and Brookfield to advance a large-scale data centre development at its Keephills power site in Parkland County, Alberta, announced on February 27, 2026. Under the framework, TransAlta will act as the exclusive site and power provider, initially targeting a long-term power purchase agreement of about 230 MW, with the potential to expand data centre load up to 1 GW subject to regulatory approvals and definitive agreements, positioning the utility to capture growing digital infrastructure demand in Alberta.

The agreement leverages TransAlta’s existing land, transmission, natural gas, water infrastructure and on-site generation at Keephills to support scalable development of energy-intensive facilities. By partnering with major global infrastructure investors CPP Investments and Brookfield, TransAlta seeks to repurpose a legacy thermal power site into a hub for digital infrastructure, which could diversify its revenue base and reinforce its strategic role in supplying power for emerging data and computing loads across the province.

The most recent analyst rating on (TSE:TA) stock is a Hold with a C$18.00 price target. To see the full list of analyst forecasts on TransAlta stock, see the TSE:TA Stock Forecast page.

Spark’s Take on TSE:TA Stock

According to Spark, TipRanks’ AI Analyst, TSE:TA is a Neutral.

TransAlta’s overall stock score reflects significant challenges in financial performance and valuation, with a negative P/E ratio and high leverage. Technical indicators suggest a bearish trend, adding to the cautious outlook. However, the company shows resilience in cash flow generation and has a positive outlook for 2025, as highlighted in the earnings call. Improvements in operational efficiency and debt reduction are crucial for enhancing financial stability.

To see Spark’s full report on TSE:TA stock, click here.

More about TransAlta

TransAlta Corporation is one of Canada’s largest publicly traded power generators, supplying reliable electricity across Canada, the United States and Western Australia. With more than a century of operations, the company runs a technology-diverse fleet of energy assets and focuses on maintaining dependable power infrastructure while adapting to evolving energy systems and future demand.

Average Trading Volume: 1,135,094

Technical Sentiment Signal: Buy

Current Market Cap: C$5.3B

Learn more about TA stock on TipRanks’ Stock Analysis page.