TransAlta expects meaningful adjusted EBITDA, free cash flow growth in 2029

TransAlta (TAC) will host its 2026 investor day in Toronto and virtually. “TransAlta is well positioned to grow in our core geographies where our existing assets, optimization capabilities and development platforms give us a clear advantage,” said John Kousinioris, president and CEO of TransAlta. “We expect the Alberta market to recover meaningfully through the end of the decade as demand growth increases, including with data centre load coming to the province. Our assets are best positioned to capture the growth, including through our recently announced MOU to advance a development project to exclusively provide power and land to serve CPP Investments and Brookfield’s data centre. As I transition into my retirement, I am confident in our repositioned and resilient base business, embedded upside, strategy and team that will ensure continued execution,” concluded Kousinioris. “The outlook for power has never been stronger, and existing generation will play a critical role to fulfill growing reliability requirements,” said Joel Hunter, executive VP, finance, CFO and incoming president and CEO. “Our strategic priorities are focused. We aim to maximize value from our base business, while selectively investing in growth opportunities that enhance contracted cash flows and long-term optionality.” “We are focused on the successful execution of our Alberta data centre and Centralia opportunities, which we believe offer the most attractive returns for the Company. We will also continue to develop a refined, high-quality project pipeline, for capital deployment later in the decade while actively pursuing strategic M&A that enhances our footprint. As we look out to 2029, we expect meaningful Adjusted EBITDA and free cash flow growth which sets the Company up for the long-term,” concluded Hunter.