TransAlta Renewables Announces the Acquisition of 303 MW Portfolio including 274 MW of Wind from TransAlta Corporation

TransAlta Renewables Inc. ("TransAlta Renewables" or the "Organization") (TSX: RNW) reported that it had gone into authoritative arrangements for the securing of three resources from TransAlta Corporation ("TransAlta") (TSX: TA) comprising of:

a 100 percent direct interest in the 207 MW Windrise wind project situated in the Municipal District of Willow Creek, Alberta;

a 49 percent financial interest in the 137 MW Skookumchuck wind office in activity situated across Thurston and Lewis Counties in Washington State; and

a 100 percent monetary interest in the 29 MW Ada cogeneration office in activity situated in Ada, Michigan.

"We are satisfied to declare our securing of Windrise and monetary interests in the Skookumchuck wind and Ada cogeneration resources. This improves our situation in the renewables area in both Canada and the US, dispatches nearby age in the US and further expands the contracted span of our sources of income for progressing dispersions to our investors as we keep on focusing on a 80 to 85 percent payout proportion for our normal offer profits," said John Kousinioris, President of TransAlta Renewables.

The absolute procurement cost for the arrangement of resources is $439 million, which incorporates the excess development costs for the Windrise wind project. The Company will finance the money thought for the securing and remaining development costs with the returns from the South Hedland project financing finished recently. The exchange will shut in discrete tranches from the get-go in 2021 subject as per the general inclination of certain end conditions; in any case, the monetary advantage of the exchange will be considered successful as at January 1, 2021.