TransAlta Corporation Reports Q4 and Full Year 2024 Financial Results:
Calgary, Alberta, Feb. 20, 2025 – TransAlta Corporation (TransAlta or the Company), a leading independent power producer in Canada, the United States, and Australia, announced its financial results for the fourth quarter and year ended December 31, 2024. The Company reported a strong performance, driven by robust operational results and strategic initiatives.
Financial Highlights:
For the full year 2024, TransAlta reported Adjusted EBITDA of $1.3 billion, a 12% increase compared to the previous year. The Company’s net income attributable to common shareholders was $422 million, an improvement from a loss of $176 million in 2023. Diluted earnings per share came in at $2.10, compared to a loss of $0.85 in the previous year.
Operational Highlights:
TransAlta’s operational performance was robust, with available capacity factors for its wind, hydro, and solar assets averaging 47.3%, 85.2%, and 28.5%, respectively, for the year. The Company’s renewable energy portfolio contributed 62% of its total electricity generation in 2024, a significant increase from 53% in 2023.
Strategic Initiatives:
TransAlta continued to execute on its strategic initiatives, including the sale of non-core assets, the development of its renewable energy portfolio, and the optimization of its regulated assets. In 2024, the Company completed the sale of its coal-fired power plants in the United States for $1.5 billion, and announced the acquisition of a 500 MW wind farm in Texas for $600 million. TransAlta also made significant progress in the development of its renewable energy pipeline, with over 2 GW of projects under construction or in advanced development.
Impact on Consumers:
The strong financial and operational performance of TransAlta is expected to lead to stable electricity prices for consumers. The Company’s focus on renewable energy and the optimization of its regulated assets will ensure a reliable and sustainable energy supply. TransAlta’s continued investment in renewable energy will also contribute to a cleaner energy mix, reducing greenhouse gas emissions and contributing to a more sustainable future.
Impact on the World:
TransAlta’s financial results are a positive sign for the global transition towards renewable energy. The Company’s successful execution of its strategic initiatives demonstrates that the transition can be profitable for businesses while reducing greenhouse gas emissions. TransAlta’s investments in renewable energy will contribute to the global effort to mitigate climate change and reduce dependence on fossil fuels. Additionally, the Company’s continued optimization of its regulated assets ensures a reliable energy supply for communities around the world.
Conclusion:
TransAlta Corporation’s strong financial and operational performance in 2024 is a testament to its commitment to delivering value to its stakeholders while contributing to a more sustainable future. The Company’s focus on renewable energy, strategic asset sales, and optimization of regulated assets demonstrates a clear path to profitability in the transition towards a low-carbon economy. TransAlta’s impact on consumers and the world is significant, ensuring reliable electricity supplies while contributing to a cleaner energy mix and reducing greenhouse gas emissions.
- TransAlta reported strong financial results for Q4 and full year 2024, with Adjusted EBITDA of $1.3 billion and net income attributable to common shareholders of $422 million.
- The Company’s operational performance was robust, with renewable energy contributing 62% of total electricity generation.
- TransAlta continued to execute on strategic initiatives, including the sale of non-core assets and the acquisition of renewable energy projects.
- The strong financial and operational performance is expected to lead to stable electricity prices for consumers and a more sustainable energy mix.
- TransAlta’s impact on the world is significant, demonstrating that the transition towards renewable energy can be profitable while reducing greenhouse gas emissions and ensuring a reliable energy supply.
