Energy producer TransAlta Corp. is hoping to signal agreements this yr with potential Alberta knowledge centre companions that will draw on pure gas-fired electrical energy it generates within the province.
“We proceed to give attention to securing exclusivity with key companions by mid-year with detailed design and definitive agreements anticipated by year-end,” CEO John Kousinioris informed a quarterly analyst convention name Wednesday.
“A knowledge centre could be operational 18 to 24 months after signing definitive agreements.”
Knowledge centres, utilized in synthetic intelligence and different high-tech industries, are huge operations that require an immense quantity of electrical energy to run and funky off laptop servers.
Alberta’s know-how minister has stated the province hopes to see $100 billion price of synthetic intelligence knowledge centres underneath development within the subsequent 5 years. Some utilities have mentioned plans to ink offers that go “behind the meter,” which means one in all their crops feeds energy to a selected consumer quite than the broader grid.
Get weekly cash information
Get skilled insights, Q&A on markets, housing, inflation, and private finance data delivered to you each Saturday.
Kousinioris informed analysts he expects TransAlta to provide round 90 per cent of a knowledge centre associate’s wants, with the remaining being drawn from the broader market.
Earlier this yr, TransAlta entered right into a partnership with Nova Clear Vitality LLC, which develops renewable tasks within the western United States. Beneath the deal, TransAlta is offering Nova a US$100 million revolving credit score facility and US$75 million time period mortgage. TransAlta, in flip, has the unique proper to purchase Nova’s late-stage improvement tasks.
Additionally Wednesday, TransAlta reported its first-quarter revenue fell in contrast with a yr in the past.
The utility stated it earned a revenue attributable to frequent shareholders of $46 million or 15 cents per share for the quarter ended March 31.
The end result in contrast with a revenue of $222 million or 72 cents per share for a similar interval in 2024.
On an adjusted foundation, TransAlta says it earned 10 cents per share in its newest quarter, down from an adjusted revenue of 41 cents per share a yr in the past.
Income totalled $758 million, down from $947 million in the identical quarter final yr.
© 2025 The Canadian Press
