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By EnergyTech Staff

TransAlta Corporation’s 200 MW Horizon Hill Wind Project located in Logan County, Oklahoma, has officially reached commercially operational.

The facility is fully contracted to Meta Platforms, which is receiving both clean electricity and environmental attributes from the new facility.

“The completion of the facility also concludes the significant construction program we started in 2021 through which we have added 800 MW of contracted renewable electricity to our portfolio,” said President and Chief Executive Officer of TransAlta John Kousinioris,. “With the completion of Horizon Hill, over 60 per cent of our fleet is now contracted on a megawatt basis.”

With the project, TransAlta increased its US renewables to over 1 GW and provided a clean energy solution to a leading corporate energy customer.

The company also entered into a 10-year transfer agreement with an AA-rated customer to sell approximately 80 per cent of the expected production tax credits (PTCs) generated from Horizon Hill. The remaining PTCs are expected to be sold through spot transactions or contracted later.

Additional Horizon Hill highlights include:

Long-term contracted revenues with Meta who will receive 100 per cent of both renewable electricity and environmental attributes.

The facility includes 34 Vestas V162 and V136 turbines, 33 of which have 119-metre towers and one has a 105-metre tower.

A 10-year transfer agreement with an AA-rated third-party customer for approximately 80 per cent of PTCs, which are subject to an annual inflation adjustment factor, with the opportunity to contract the remaining 20 per cent.

Extends TransAlta’s weighted average contract life of its renewables portfolio to over 12 years.

Estimated average annual adjusted EBITDA range between US$31 and US$33 million, including third-party sales of PTCs.