March 20, 2006

TransAlta, Epcor plan joint development of Keephills 3 project

EDMONTON & CALGARY, ALTA-TransAlta and Epcor Utilities have signed a joint development agreement for TransAlta's Keephills 3 power project. Formerly known as Centennial, the project is a proposed 450-megawatt (MW) unit adjacent to TransAlta's existing Keephills facility, approximately 70 kilometres west of Edmonton. The Keephills 3 project will use either supercritical boiler technology, which is in operation at G3, or other technology providing equivalent or superior environmental performance at a comparable cost. Supercritical technology is more efficient and has better environmental performance than conventional coal plants. Development work during 2006 will include continuing stakeholder consultations, focusing on the regulatory process, defining commercial and financial details, completing preliminary engineering and design work, and setting up construction contracts. Assuming that development work proceeds as planned, that both companies' boards of directors give final project approval, and that the required regulatory approvals are obtained, TransAlta and Epcor expect the facility is to be operational in 2011.

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