Canadian utility TransAlta is reportedly shelving a plan to convert a coal unit to natural gas with the view to redirect the capital to renewable energy investments in Canada, the United States and Australia.
According to PV Magazine, TransAlta plans to add 2GW of new capacity to its generation assets, investing roughly C$3 billion developing, constructing, and acquiring new assets by the end of 2025.
The company said it had “significant growth aspirations” across Canada, the United States, and Australia and would focus on renewable and energy storage project for large customers, with further plans to expand into contracted renewables with solar, onshore wind, and battery storage.
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TransAlta said it would suspend the planned 730MW conversion of a former coal-fired unit to natural gas, due largely to escalating costs, changing supply and demand dynamics, and regulatory risks. Instead, it will redirect the capital to fund renewables growth.
The company has a development pipeline that includes 270MW in Australia, comprising Fortescue River Gas Pipeline, Parkeston, South Hedland, and Southern Cross—all located in Western Australia.
“We plan to grow and are looking for new opportunities across Australia. Our goal is to be a trusted energy partner, with collaborative and hands-on customised power solutions to fit industrial, commercial and utility energy needs,” TransAlta said.
