Research analysts who have asked questions during TRANSALTA earnings calls.
BP
Benjamin Pham
BMO Capital Markets
4 questions for TAC
Also covers: AQN, ATGFF, BEP +8 more
JM
John Mould
TD Cowen
4 questions for TAC
Also covers: EMA, FTS
MJ
Mark Jarvi
CIBC Capital Markets
4 questions for TAC
Also covers: AQN, AY, BEP +6 more
Maurice Choy
RBC Capital Markets
4 questions for TAC
Also covers: ATGFF, BIP, EMA +7 more
PK
Patrick Kenny
National Bank Financial
3 questions for TAC
Also covers: ATGFF, EMRAF, ENB +5 more
Robert Hope
Scotiabank
3 questions for TAC
Also covers: AQN, ATGFF, BEP +10 more
Julien Dumoulin-Smith
Jefferies
1 question for TAC
Also covers: AEE, AEP, AES +54 more
Tanner James
Jefferies
1 question for TAC
Recent press releases and 8-K filings for TAC.
TransAlta Corporation Issues New Senior Notes
TAC
Debt Issuance
- TransAlta Corporation issued US$400,000,000 aggregate principal amount of 5.875% Senior Notes due 2034 on December 22, 2025.
- These unsecured obligations bear interest at 5.875% per annum, payable semiannually, and will mature on February 1, 2034.
- The company has optional redemption rights, including redeeming up to 40% of the notes at 105.875% of principal prior to February 1, 2029, under specific Equity Offering conditions, or at a Make Whole Premium.
- From February 1, 2029, the notes are redeemable at declining percentages of principal, starting at 102.9375% in 2029 and reaching 100% in 2031 and thereafter.
- A Change of Control Triggering Event (occurrence of both a Change of Control and a related Ratings Decline) grants holders the right to require repurchase at 101% of the principal amount.
15 hours ago
TransAlta to Temporarily Mothball Sheerness Unit 1
TAC
New Projects/Investments
- TransAlta Corporation announced its decision to temporarily mothball Sheerness Unit 1.
- The unit will be taken offline effective April 1, 2026, for a period of up to two years.
- This decision was made as a prudent financial move to preserve the asset's long-term optionality for future economic opportunities.
- Sheerness Unit 2 will remain fully in service.
5 days ago
TransAlta to Temporarily Mothball Sheerness Unit 1
TAC
New Projects/Investments
Demand Weakening
- TransAlta Corporation (TSX: TA) (NYSE: TAC) announced on December 18, 2025, that its subsidiary, Alberta Power (2000) Ltd., will temporarily mothball Sheerness Unit 1 effective April 1, 2026, for a period of up to two years.
- The company stated this is a prudent financial decision to preserve the asset's long-term optionality, allowing for its return to service based on future market fundamentals or contracting opportunities.
- Sheerness Unit 1 will remain available and fully operational through the winter season, and Sheerness Unit 2 will remain fully in service.
5 days ago
TransAlta's Centralia Unit 2 Mandated to Remain Operational
TAC
Legal Proceedings
- TransAlta Corporation's subsidiary, TransAlta Centralia Generation LLC, has received an order from the United States Department of Energy.
- The order mandates that Centralia Unit 2 in Washington State remain available for operation.
- This mandate is for a period of 90 days, effective until March 16, 2026.
- TransAlta is currently evaluating the order and will work with state and federal governments in relation thereto.
6 days ago
TransAlta Corporation Announces Senior Unsecured Notes Offering
TAC
Debt Issuance
- TransAlta Corporation is issuing US$400,000,000 in SEC-registered senior unsecured notes with a 5.875% coupon, maturing on February 1, 2034.
- The notes are priced at 99.385% of the principal amount, resulting in a yield to maturity of 5.970%, with settlement expected on December 22, 2025.
- An underwriting fee of 1.25% of the principal amount will be paid to the underwriters.
- For eligible non-resident holders, interest, principal, and premium on the Securities will not be subject to Canadian withholding or other taxes.
8 days ago
TransAlta signs long-term agreement for Centralia facility coal-to-gas conversion
TAC
New Projects/Investments
- TransAlta Corporation (TAC) has signed a 16-year fixed-price tolling agreement with Puget Sound Energy (PSE) for the conversion of its Centralia Unit 2 facility from coal to natural gas-fired generation.
- The converted facility will provide 700 MW of contracted capacity until December 31, 2044, and is expected to reduce the facility's emission intensity by approximately 50 percent.
- The project requires an estimated US$600 million in capital expenditures and is projected to achieve a build multiple of approximately 5.5 times, with a target commercial operation date in late-2028.
Dec 9, 2025, 9:53 PM
TransAlta Signs Agreement for Centralia Coal-to-Gas Conversion
TAC
New Projects/Investments
Guidance Update
- TransAlta will convert its Centralia Unit 2 facility from coal to natural gas, with a planned contracted capacity of 700 MW.
- The converted facility will deliver power to Puget Sound Energy under a 16-year fixed price contract through December 31, 2044.
- The project requires approximately US$600 million in capital expenditures, with a target commercial operation date of late-2028.
- This conversion is projected to lower the facility's emission intensity profile by approximately 50 percent.
Dec 9, 2025, 12:00 PM
TransAlta to Acquire 310 MW Ontario Gas Portfolio
TAC
M&A
New Projects/Investments
- TransAlta Corporation has entered into a definitive agreement to acquire Far North Power Corporation and its entire business operations in Ontario for $95 million.
- The acquisition includes four natural gas-fired generation facilities totaling 310 MW.
- The transaction is expected to be immediately accretive to free cash flow and cash yield upon closing and is anticipated to add approximately $30 million of average Adjusted EBITDA per year from 2027-2031.
- The deal is subject to customary closing conditions, including regulatory approvals, and is expected to close by early first quarter of 2026.
Nov 17, 2025, 11:30 AM
TransAlta Reports Q3 2025 Results, Announces CEO Retirement, and Provides Updates on Strategic Initiatives
TAC
Earnings
CEO Change
New Projects/Investments
- TransAlta reported Q3 2025 adjusted EBITDA of CAD 238 million, a CAD 77 million decrease from Q3 2024, and free cash flow of CAD 105 million, a CAD 26 million decrease from the prior year, primarily due to lower power prices and subdued market volatility. The company is tracking towards the lower end of its 2025 adjusted EBITDA range but the midpoint for free cash flow.
- President and CEO John Kousinioris announced his retirement effective April 30, 2026, with Joel (Speaker 5) slated to succeed him. A CFO successor will be announced in the coming months.
- The company is advancing its Alberta data center strategy, having secured a demand transmission service contract for 230 MW with AESO and obtaining rezoning approval for over 3,000 acres for future development. They are progressing towards a Memorandum of Understanding (MOU) with prospective customers, with the Alberta restructured energy market (REM) expected to be implemented in 2027 or 2028 and support system reliability and power prices.
- At its Centralia site, TransAlta expects to execute a definitive agreement before year-end for the coal-to-gas conversion, which will also detail revenue streams and tenor.
Nov 6, 2025, 4:00 PM
TransAlta Announces President and CEO Succession
TAC
CEO Change
Management Change
CFO Change
- TransAlta Corporation announced on November 6, 2025, that its President and CEO, John Kousinioris, plans to retire effective April 30, 2026.
- Joel Hunter, currently the Executive Vice President, Finance and Chief Financial Officer, has been appointed to succeed Mr. Kousinioris as President and CEO, and will be nominated to join the Board, effective April 30, 2026.
- Mr. Kousinioris will serve as a strategic advisor for six months following his retirement, and the Company's Chief Financial Officer successor will be announced in the coming months.
Nov 6, 2025, 12:46 PM
Quarterly earnings call transcripts for TRANSALTA.
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