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    TransAlta 200 MW Horizon Hill Wind Now Operational and Providing Clean Electricity to Meta

    May 23, 2024
    The company also entered into a 10-year transfer agreement with an AA- rated customer for the sale of approximately 80% of the expected production tax credits
    TransAlta
    664f770611367d712f05b2f7 Transalta

    TransAlta Corporation’s 200 MW Horizon Hill Wind Project located in Logan County, Oklahoma, has officially reached commercially operational. 

    The facility is fully contracted to Meta Platforms, which is receiving both clean electricity and environmental attributes from the new facility.

    “The completion of the facility also concludes the significant construction program we started in 2021 through which we have added 800 MW of contracted renewable electricity to our portfolio,” said Mr. John Kousinioris, President and Chief Executive Officer of TransAlta. “With the completion of Horizon Hill, over 60% of our fleet is now contracted on a megawatt basis.” 

    With the project, TransAlta increased its US renewables to over 1 GW and provided a clean energy solution to a leading corporate energy customer. 

    The company also entered into a 10-year transfer agreement with an AA-rated customer to sell approximately 80% of the expected production tax credits (PTCs) generated from Horizon Hill. The remaining PTCs are expected to be sold through spot transactions or contracted later.

    Additional Horizon Hill highlights include:

    Long-term contracted revenues with Meta who will receive 100% of both renewable electricity and environmental attributes.

    The facility includes 34 Vestas V162 and V136 turbines, 33 of which have 119-metre towers and one has a 105-metre tower.

    A 10-year transfer agreement with an AA-rated third-party customer for approximately 80% of PTCs, which are subject to an annual inflation adjustment factor, with the opportunity to contract the remaining 20%.

    Extends TransAlta’s weighted average contract life of its renewables portfolio to over 12 years.

    Estimated average annual adjusted EBITDA range between $31 and $33 million, including third-party sales of PTCs.

    About the Author

    EnergyTech Staff

    Rod Walton is senior editor for EnergyTech.com. He has spent 14 years covering the energy industry as a newspaper and trade journalist.

    Walton formerly was energy writer and business editor at the Tulsa World. Later, he spent six years covering the electricity power sector for Pennwell and Clarion Events. He joined Endeavor and EnergyTech in November 2021.

    He can be reached at [email protected]. 

    EnergyTech is focused on the mission critical and large-scale energy users and their sustainability and resiliency goals. These include the commercial and industrial sectors, as well as the military, universities, data centers and microgrids.

    Many large-scale energy users such as Fortune 500 companies, and mission-critical users such as military bases, universities, healthcare facilities, public safety and data centers, shifting their energy priorities to reach net-zero carbon goals within the coming decades. These include plans for renewable energy power purchase agreements, but also on-site resiliency projects such as microgrids, combined heat and power, rooftop solar, energy storage, digitalization and building efficiency upgrades.