Wind Power Acquisition Finalized

December 9, 2002 [] TransAlta Corporation has officially completed the previously announced purchase of Vision Quest Windelectric Inc. for US$37 million. This deal brings TransAlta’s total investment in the Calgary wind power company to US$50 million. TransAlta will also assume Vision Quest’s $32 million debt. Vision Quest Windelectric Inc., now a wholly owned, independently operated subsidiary of TransAlta, owns and operates 67 wind turbine power plants with 44 megawatts of total peak capacity. The company is currently building the McBride Lake Windfarm in Alberta – Canada’s largest windfarm to date.
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