TransAlta sells Oklahoma wind stake to Ares and buys Colorado gas plants
On October 22, 2026, TransAlta completed the sale of a 49% interest in its 500 MW Oklahoma wind portfolio to Ares Infrastructure funds for US$305 million in cash, while keeping operating oversight. The portfolio is expected to produce approximately US$60 million of Adjusted EBITDA in 2026, with approximately US$29 million attributable to TransAlta’s retained share. TransAlta also completed its US$1.0 billion purchase of two Colorado gas-fired peaking facilities from Blackstone, including US$750 million of assumed project debt and 318 MW of capacity.
Why it matters
The transactions shift TransAlta’s capital toward Colorado gas generation while monetizing part of its Oklahoma wind investment. TransAlta said the sale proceeds will reinforce its balance sheet and support growth projects, including the Centralia conversion and Alberta data centre projects.
Key facts
- 1Ares Infrastructure funds acquired 49% of TransAlta’s 500 MW Oklahoma wind portfolio for US$305 million in cash, before customary closing adjustments. stratfordbeaconherald.com
- 2The Oklahoma portfolio is expected to generate approximately US$60 million of Adjusted EBITDA in 2026, including approximately US$29 million for TransAlta’s 49% share. stratfordbeaconherald.com
- 3TransAlta bought Mountain Peak Power LLC and Canyon Peak Power LLC from Blackstone for US$1.0 billion, including US$750 million of assumed senior secured project-level debt. stratfordbeaconherald.com
- 4The Colorado acquisition comprises two natural gas-fired peaking facilities with total capacity of 318 MW near Denver. stratfordbeaconherald.com
- 5The Oklahoma wind assets have production tax credits that expire in 2034. investing.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.