TRSWF - TransAlta sells $439M in power assets to renewables subsidiary

TransAlta ([[TAC]] +6.1%) says it is selling power transmission assets in Canada and the U.S. to its majority owned TransAlta Renewables (TRSWF) subsidiary for C$439M.The sale includes a 100% interest in the 207 MW Windrise wind project in southern Alberta; a 49% stake in the 137 MW Skookumchuck wind facility in Washington state; and a 100% interest in the 29 MW Ada cogeneration facility in Michigan.TransAlta says the portfolio has an average weighted contract life of about 19 years.The company also announced a 6% increase in its quarterly dividend to $0.045/share.TransAlta's "solid free cash flow profile alongside with its green focus could make it an ESG play, Trapping Value writes in an analysis published recently on Seeking Alpha.

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TransAlta sells $439M in power assets to renewables subsidiary