|By Marketwired .||
|January 27, 2014 11:47 AM EST||
CALGARY, ALBERTA -- (Marketwired) -- 01/27/14 -- TAMA Power is pleased to announce further details regarding the Sundance 7 natural-gas power project. TAMA Power is a partnership with TransAlta Corporation (TSX:TA)(NYSE:TAC) and MidAmerican Energy Holdings Company.
"We're building for the future with the Sundance 7 project as this power plant will be an essential addition to the Alberta electricity market to meet the province's long-term supply needs," said Brett Gellner, TransAlta Chief Financial and Investment Officer. "TransAlta has a 100-year history of serving Albertans with reliable, efficient and low-cost energy," added Gellner. "We will continue this tradition for the next 100 years as a low-cost, environmental leader, with a reputation for responsible, efficient and reliable power generation."
Alberta continues to be one of the strongest economies in North America, and it's predicted by 2020 generation growth in total capacity will grow from 14,000 megawatts (MW) to 19,000 MW. This growth is equal to adding two cities the size of Red Deer each year from now until 2020.
Sundance 7 will be located in Parkland County, east of the Sundance cooling pond on the south side of Lake Wabamun. Commissioning Sundance 7 is expected in 2018, and when final approvals are acquired and the facility is online, it will generate 800 MW of electricity, enough to power 720,000 homes.
This plant will be in the top five to six percent across North America for power-plant efficiency and emissions.
The Project's first open house is set for:
Tuesday, February 4, 2014 - 4 to 8 p.m. MT
Presentation to begin at 6:45 p.m. MT
Question & Answer session to begin at 7 p.m. MT
Location: Sundance Training Centre - 4420A Sundance Road, Parkland County
TAMA Power also launched a video introducing Sundance 7: http://www.youtube.com/watch?v=dEvI2mqcXMs&feature=em-upload_owner&noredirect=1.
TransAlta is a power generation and wholesale marketing company focused on creating long-term shareholder value. TransAlta maintains a low-to-moderate risk profile by operating a highly contracted portfolio of assets in Canada, the United States and Australia. TransAlta's focus is to efficiently operate geothermal, wind, hydro, natural gas and coal facilities in order to provide customers with a reliable, low-cost source of power. For over 100 years, TransAlta has been a responsible operator and a proud contributor to the communities in which it works and lives. TransAlta has been selected by Sustainalytics as one of Canada's Top 50 Socially Responsible Companies since 2009 and is recognized globally for its leadership on sustainability and corporate responsibility standards by FTSE4Good. TransAlta is Canada's largest investor-owned renewable energy provider.
This news release may contain forward-looking statements, including statements regarding the development of the Sundance 7 power project and the growth of generation in the Province of Alberta. The statements in this press release are based on information available at the time of the release and future performance cannot be derived from the statements. Forward looking statements are subject to a number of risks and uncertainties. Some of the factors that could cause differences in the results are our inability to successfully compete for the project, legislative or regulatory developments and other general economic conditions.
Stacey Hatcher, TransAlta
Senior Corporate Relations Advisor
Toll Free Media Number: 1-855-255-9189