TransAlta Corporation recently commissioned the Horizon Hill wind power project, located in Logan County, Oklahoma. This 200MW project, fully contracted to Meta Platforms Inc. marks a milestone in the expansion of TransAlta’s renewable energy generation capabilities. Horizon Hill is equipped with 34 Vestas turbines, providing clean energy that helps power Meta’s global operations with 100% of its electricity. wind and solarpower.
Strategic partnership with Meta
Meta Platforms Inc. is committed to supporting its operations with renewable energy, and benefits from a long-term contract with TransAlta to receive clean electricity and environmental attributes. Urvi Parekh, Renewable Energy Manager at Meta, emphasized the importance of this partnership in achieving their sustainability goals. With the addition of Horizon Hill, TransAlta now has over 1GW of renewable energy capacity in the United States. John Kousinioris, President and CEO of TransAlta, expressed his satisfaction at the completion of this project, which concludes a significant construction program launched in 2021 and adds 800MW of renewable electricity to their portfolio.
Technical and Financial Details
The Horizon Hill project comprises 34 Vestas V162 and V136 turbines, with towers of 119 and 105 metres. TransAlta has signed a 10-year production tax credit (PTC) transfer agreement with an AA- rated customer, covering around 80% of expected PTCs. Remaining credits will be sold at a later date or through cash transactions. This project extends the weighted average life of TransAlta’s renewables contracts to over 12 years, and is expected to generate average annual adjusted EBITDA of between US$31 and US$33 million.
Environmental impact and sustainability
TransAlta, one of Canada’s largest wind power producers, is committed to aligning its corporate objectives with the United Nations’ sustainable development goals. The company has reduced its GHG emissions by 66% since 2015 and has an ESG rating of AA from MSCI. The completion of Horizon Hill reinforces this commitment, providing customers with a clean and reliable source of energy.
Outlook for the Future of Renewable Energy
The Horizon Hill project represents an important step forward in TransAlta’s mission to provide clean, affordable energy. Continued investment in renewable energies, as demonstrated by Horizon Hill. The commercial operation of TransAlta’s Horizon Hill wind project is a milestone in the expansion of renewable energy in North America.
