TransAlta to buy pair of gas-fired plants from Blackstone for $1-billion
TransAlta Corp. has announced its acquisition of two gas-fired plants from Blackstone for approximately $1 billion. The deal aims to enhance TransAlta's presence in the Western U.S. power market and is expected to generate significant annual profits. The transaction is set to close in early fourth-quarter 2026, pending the completion of one facility.
- ▪TransAlta will acquire Mountain Peak Power and Canyon Peak Power from Blackstone for about $1 billion.
- ▪The plants have a combined capacity of 318 megawatts and are contracted for over 25 years.
- ▪The deal includes assuming $750 million in project-level debt and raising $250 million in equity through a share offering.
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| Original publisher | The Globe and Mail |
| Canonical URL | https://www.theglobeandmail.com/business/industry-news/energy-and-resources/article-transalta-to-buy-pair-of-gas-fired-plants-from-blackstone/ |
| Publication time | Thu, 04 Jun 2026 10:50:13 +0000 |
| Retrieval time | 2026-06-04T11:01:50.269Z |
| Last seen | 2026-06-04T11:01:50.269Z |
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| Summary source text | contentText |
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| Publisher visit | Yes — open original |
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Open this photo in gallery:A TransAlta wind farm near Pincher Creek, Alta.Jeff McIntosh/The Canadian PressShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountCalgary-based power producer TransAlta Corp. TA-T said on Wednesday it will acquire two natural gas-fired peaking facilities near Denver, Colo., from Blackstone BX-N for about US$1-billion, strengthening its presence in the Western U.S. power market.Power producers are adding flexible gas-fired capacity to support rising demand, as the industry prepares for a rapid growth in electricity consumption, partly driven by power-hungry data centres.The assets, Mountain Peak Power and Canyon Peak Power, have a combined capacity of 318 megawatts and are fully contracted under long-term tolling agreements with…
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