Topic: How To Invest

Q: Pat: What do you think about TransAlta Renewables (RNW) for new investment? Thank you.

Article Excerpt

A: TransAlta Renewables, $15.21, symbol RNW on Toronto (Shares outstanding: 265.9 million; Market cap: $4.0 billion; www.transaltarenewables.com), is one of the largest generators of wind power in Canada and is among the country’s largest publicly traded renewable power companies. TransAlta Renewables owns 23 wind farms, 13 hydroelectric facilities, one natural gas generation plant, one solar facility and one natural gas pipeline. Altogether, that makes for a total generating capacity of 2,555 megawatts. The company’s facilities are located in the provinces of B.C., Alberta, Ontario, Quebec and New Brunswick as well as the U.S. states of Wyoming, Massachusetts and Minnesota. TransAlta Renewables also has assets “Down Under,” in the State of Western Australia. Formed on May 28, 2013, TransAlta Renewables first sold shares to the public and listed on the Toronto exchange in August of that year. It then acquired 28 wind and hydroelectric assets from TransAlta Corp. (symbol TA on Toronto) for $1.7 billion. TransAlta Corp. now holds 64% of TransAlta Renewables. The…