Navigate this market better. Subscribe for FREE stock alerts and information.

Monday, July 28, 2014

TransAlta to build $536 million power station in Australia, (NYSE: TAC)

Canadian power company TransAlta Corp said it would build a A$570 million ($536 million) gas power station in South Hedland, Western Australia.The 150-megawatt (MW) power station will supply to customers of state-owned Horizon Power in the Pilbara region and to Fortescue Metals Group Ltd's port operations, TransAlta said on Monday.The combined cycle gas power station, to be built on an existing site at Boodarie Industrial Estate, will likely be in service by 2017.TransAlta, which also operates in Canada and the United States, was selected as the preferred bidder for the project in April.

TransAlta Corporation (TransAlta), is engaged in the production and sale of electric energy. Shares of TAC remained unchanged at $11.73. In the past year, the shares have traded as low as $11.20 and as high as $14.55. On average, 96521 shares of TAC exchange hands on a given day and today's volume is recorded at 0.