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TransAlta Renewables Reports Fourth Quarter and Full Year 2020 Results and Provides Outlook for 2021
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Full-Year 2020 Financial Highlights
Adjusted funds from operations ( AFFO )
(1) of $355 million, increase of 3% from 2019
Cash available for distribution ( CAFD )
(1) of $304 million or $1.14 per share, increase of 3% on a per-share basis compared to 2019
TransAlta Renewables Inc. ( TransAlta Renewables or the Company ) (TSX: RNW) announced today solid financial results for the three months and year ended December 31, 2020 along with its 2021 outlook. Despite the ongoing challenges that COVID-19 presents, our results for the year demonstrated the strength and resilience of our diversified portfolio and highlighted the growth in our business and underlying cash flows, said Todd Stack, President. With the most recent announced 303 MW of drop-downs effective for 2021, our focus now turns to executing further on our growth strategy by l
Sustaining capital range of
$210 million
TransAlta Corporation ( TransAlta or the Company ) (TSX: TA) (NYSE: TAC) today reported its financial results for the fourth quarter and full year ended
Dec. 31, 2020. 2020 was a pivotal year for
TransAlta. Despite the challenges of dealing with a pandemic, we delivered strong financial performance and continued to execute on our Clean Energy Investment Plan. We delivered our first gas conversion,
Sundance 6, to market and are on track to close our coal mine in
Alberta by end of 2021. Our greenhouse gas emissions (GHG) profile for 2020 reduced an additional 4.2 million tonnes compared to 2019, all told we have achieved a 60 per cent reduction in GHG emissions since 2005 well beyond the expectations under the Paris Agreement. We also deployed 77 MW of net wind and energy storage and we continued to build TransAlta Renewables through the dropdowns we executed at the end of the year., said
TransAlta Reports Fourth Quarter and Full Year 2020 Results, Provides 2021 Outlook and Announces Carbon Neutrality by 2050
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Fourth Quarter 2020 Financial Highlights
Comparable EBITDA
Free Cash Flow ( FCF )
(1) of $52 million or $0.19 per share in the quarter compared to $121 million or $0.43 per share for the same period in 2019
Full Year 2020 Financial Operating Highlights
Comparable EBITDA
(1,3) of $927 million compared to $928 million for the year ending 2019 adjusted for PPA Termination Payments (as defined below)
FCF
(1,3) of $358 million or $1.30 per share compared to $379 million or $1.34 per share adjusted for one-time PPA Termination Payments received in 2019
Strong availability of 90.3 per cent compared to 90.0 per cent for 2019
TransAlta Reports Fourth Quarter and Full Year 2020 Results, Provides 2021 Outlook and Announces Carbon Neutrality by 2050 prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.