17:15:29 EDT Sun 19 May 2024
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TransAlta Corp
Symbol TA
Shares Issued 304,533,552
Close 2024-05-06 C$ 9.84
Market Cap C$ 2,996,610,152
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Globe says Alberta's anti-green reforms hit TransAlta

2024-05-07 07:22 ET - News Release

The Globe and Mail reports in its Tuesday edition that Cardston county covers a big swath of rolling Alberta grasslands nestled between the Rocky Mountains and Lethbridge, extending south to the Canada-U.S. border. The Globe's Emma Graney and Jeffrey Jones write that Cardston's local government had been banking on a major new renewable-energy project spinning out tax revenue to support its budget. No more. TransAlta had planned to build its Riplinger wind farm there, with first power from its 47 turbines expected in 2027. Then last week, the company cancelled the 300-megawatt project, saying new restrictions on renewables imposed by the Alberta government made it impossible to proceed. The region's voters have reliably supported Premier Danielle Smith's United Conservative Party. Randy Bullock, Cardston County's reeve, says the county's spending plans are in disarray. Council wants to build a water treatment plant, pave roads and reconfigure a thoroughfare to build commercial developments alongside it. The UCP touts a "libertarian, stay-out-of-my-face style of government," Mr. Bullock said, but with renewables it has taken a heavy-handed approach. Ms. Smith says she wants to preserve so-called pristine viewscapes.

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