TransAlta buys Vision Quest to add wind power
Date: 30-Oct-02
Country: CANADA
TransAlta said it will pay C$37 million ($24 million) for privately held Vision Quest, which operates 67 wind turbine power plants with 44 Megawatts of peak capacity in Alberta, enough to supply 20,000 average homes annually.
TransAlta, which had previously invested C$13 million in Vision Quest, will also assume its C$32 million debt in the deal, slated to close before the end of the year.
Its long-term goal is for renewables to make up 10 percent of its generation capacity.
Shares in TransAlta were off 8 Canadian cents at C$18.91 in Toronto this week.
