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Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Blue Cloud Wind Farm | 2023 | TC Energy acquired the Blue Cloud Wind Farm on June 14, 2023, located in Bailey County, Texas, for US$125 million with a capacity of 148 MW; the deal involved acquiring 100% of the Class B Membership Interests and is accounted for as an asset acquisition without the recognition of goodwill. |
Fluvanna Wind Farm | 2023 | TC Energy closed the acquisition of the 155-MW Fluvanna Wind Farm on March 15, 2023, in Scurry County, Texas, for US$99 million (before post-closing adjustments), structuring the transaction with tax equity investors and applying the HLBV method to allocate earnings, while recording a non-controlling interest for the tax equity investor at an estimated fair value. |
KO Transmission assets | 2022 | Approved on April 28, 2022, for approximately US$80 million, this acquisition is aimed to integrate the assets into TC Energy's Columbia Gas pipeline to enhance last-mile connectivity and support future capital investments, pending FERC approval expected by the end of 2022. |
Recent press releases and 8-K filings for TRP.
- Strong Q1 2025 Performance: Delivered solid comparable earnings near $1.0 billion from continuing operations alongside record safety and throughput improvements with a 6% increase in system throughput and multiple all-time delivery records .
- Capital Projects Guidance: On track to bring $8.5 billion of assets into service, with capital expenditures initially expected between $5.5–$6 billion and an updated outlook of $6.1–$6.6 billion .
- EBITDA Outlook: Reaffirmed 2025 EBITDA guidance at $10.7–10.9 billion with projections growing to $11.7–11.9 billion by 2027, supported by long-term contracts and low commodity price risk .
- Advancing Strategic Projects: Key initiatives include the Northwoods project for U.S. electric generation and the Southeast Gateway pipeline anticipated to commence service after regulatory approval by end-May 2025 .
- TC Energy announced that it will release its Q1 2025 financial results on May 1, 2025, at 6:30 a.m. MDT / 8:30 a.m. EDT, providing key financial updates for investors.
- The company will host its annual meeting of common shareholders on May 8, 2025, via a virtual live webcast, including a Q&A session, emphasizing transparency and investor engagement.