TransAlta Declares Force Majeure on Keephills 1 Power Plant

Tue Mar 26, 2013 7:45am EDT

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Marketwire

TransAlta Corporation

March 26, 2013 - 07:45:00 AM

TransAlta Declares Force Majeure on Keephills 1 Power Plant

CALGARY, ALBERTA--(Marketwire - March 26, 2013) - TransAlta Corporation
(TSX:TA)(NYSE:TAC) today announced that it has declared force majeure due to a
winding failure found in the generator of its 395 megawatt Keephills 1 power
plant (the "Unit") located near Wabamun, Alberta. TransAlta is working with
the original equipment manufacturer of the generator to safely return the Unit
to service, which is currently expected to be on or about April 21, 2013.

TransAlta has given notice under the Power Purchase Arrangement ("PPA") to the
PPA buyer and the Balancing Pool of a High Impact Low Probability ("HILP")
Force Majeure event. In the event of a force majeure, TransAlta is entitled to
continue to receive its PPA capacity payment and is protected under the terms
of the PPA from having to pay availability penalties. As a result, TransAlta
does not expect the outage to have a material financial impact on the
corporation.

TransAlta is a power generation and wholesale marketing company focused on
creating long-term shareholder value. TransAlta maintains a low-to-moderate
risk profile by operating a highly contracted portfolio of assets in Canada,
the United States and Australia. TransAlta's focus is to efficiently operate
geothermal, wind, hydro, natural gas and coal facilities in order to provide
customers with a reliable, low-cost source of power. For over 100 years,
TransAlta has been a responsible operator and a proud contributor to the
communities in which it works and lives. TransAlta has been selected by
Jantzi-Sustainalytics as one of Canada's Top 50 Socially Responsible Companies
since 2009 and is recognized globally for its leadership on sustainability and
corporate responsibility standards by FTSE4Good. TransAlta is Canada's largest
investor-owned renewable energy provider.

This news release may contain forward-looking statements, including statements
regarding the condition of the generator at the Unit, the characterization of
the outage at the Unit as a force majeure event, the time required to repair
the Unit and the financial impact of the outage on TransAlta. These statements
are based on TransAlta's belief and assumptions based on information available
at the time the assumption was made. These statements are subject to a number
of risks and uncertainties that may cause actual results to differ materially
from those contemplated by the forward-looking statements. Some of the factors
that could cause such differences include, without limitation, unexpected
complications and delays in carrying out the repairs to the generator in the
Unit.

FOR FURTHER INFORMATION PLEASE CONTACT: 
Media inquiries:
TransAlta Corporation
Stacey Hatcher
Senior Corporate Relations Advisor
Toll Free Media Number: 1-855-255-9189
TA_Media_Relations@transalta.com


Investor inquiries:
TransAlta Corporation
Brent Ward
Director, Corporate Finance & Investor Relations
(403) 267-2519
brent_ward@transalta.com