TransAlta Corporation announced today that it has entered into two long-term power purchase agreements for the offtake of 100% of the generation from its 300 MW White Rock East and White Rock West Wind Power Projects in Caddo County, Oklahoma.

The White Rock Wind Project will consist of a total of 51 Vestas turbines with construction expected to begin in late 2022 and a target commercial operation date in the second half of 2023. TransAlta will construct, operate, and own the facility. Total construction capital is estimated at approximately $460 million to $470 million and is expected to be financed with existing liquidity and tax equity.

Over 90% of the project costs are captured under executed fixed price turbine supply agreements with Vestas and executed fixed price engineering, procurement, and construction agreements with M.A. Mortenson Company. The project is expected to generate total annual earnings before interest, taxes, depreciation and amortization of approximately $44 million including production tax credits.