TransAlta to acquire two Blackstone-backed gas-fired power plants for $1 billion

Type: Acquisition · Technology: Gas · Country: United States · Value: $1B · Announced: 2026-06-04

TransAlta Corporation agreed to acquire two gas-fired power plants backed by Blackstone Inc. for $1 billion, expanding its North American power generation portfolio. The transaction involves Blackstone's ownership stakes in the facilities, which are strategically positioned within TransAlta's core markets. The deal follows TransAlta's recent focus on diversifying its energy mix while maintaining a balanced exposure to thermal and renewable assets. Financial advisors and legal teams were engaged to facilitate the transaction, though specific advisory firms were not disclosed in the announcement. The acquisition is expected to close subject to regulatory approvals and customary closing conditions.

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