TransAlta (TSX: TA) announced in late September that it is shutting down three of its natural gas electricity generating plants and ending its coal mining operations.
The rebuild of the Sundance Unit 5 natural gas plant has been suspended due to escalating costs, slack demand and forecast power prices.
Two other plants – Sundance Unit 4 and Keephills Unit 1 – were in the process of being converted to natural gas from coal, and those projects will also be halted.
The company has pledged to cease all coal fired generation in Canada by the end of 2021 and globally by the end of 2025. The move will reduce remissions by 70% over 2005 levels, and intends to reach carbon neutrality by 2050.
TransAlta will instead focus its efforts on renewable energy. It is planning to invest $3 billion in more hydro, wind and solar generation facilities and energy storage.
TransAlta began providing electric energy to Alberta consumers in 1970 when it fired up its first coal generators.
Learn more about the new TransAlta at www.TransAlta.com.
November 5, 2024
November 5, 2024
2 Comments
Randy Clarkson
It is good to see that TransAlta is emphasizing green power alternatives but it is unrealistic to think that the can fully replace coal or gas fired electrical turbines with green power. Green energy can supplement a small portion of conventional sources of electrical power but it is unlikely to replace them in the foreseeable future. I am the owner/operator of a small hydro and can tell you that there are a very limited number of undeveloped hydro sites. There is only power from wind turbines when there are moderate winds and from solar when the sun shines. Nuclear is the only substantial alternative to fossil fuel generators but is unlikely to be approved/developed until there are vast shortages of electrical power.
Lyle Young
Like all other “GREEN” dreamers, the management of TransAlta is being goaded into an unrealistic dream to satisfy an eco/political movement that will ultimately destroy industries that it will take generations to re-establish. If the eco dreamers would think beyond the moment and realize the future electricity demand they are requesting in an effort to electrify the world they would realize that it is not achievable with conventional tools and resources. Most hydro electric operable sites have already been developed and masses of arable land required for food production has been committed to reservoirs. I hold a significant position in TransAlta which I think is at considerable risk under the current management team.