Ares Infrastructure funds have acquired a 49% stake in TransAlta's 500MW Oklahoma wind portfolio for US$305m in cash, TransAlta said on 22 October 2026.
Why Ares Infrastructure funds (Ares Management) is buying 49% of TransAlta's 500MW Oklahoma wind portfolio
TransAlta said the sale monetises part of its investment in a non-core geography while keeping operational control, with proceeds to strengthen its balance sheet and support projects including the Centralia conversion and Alberta data centres. Ares said the deal fits its focus on essential infrastructure with durable cash flows.
“This transaction monetizes a portion of our investment in a non-core geography while retaining operational control and continued participation in the Assets.”
Deal terms and financing
The price is before customary closing adjustments. The assets are expected to generate about US$60m of adjusted EBITDA in 2026, or roughly US$29m for the 49% share sold, and are supported by long-term contracts with investment-grade counterparties and production tax credits expiring in 2034.
Market context
TransAlta announced on the same day that it had completed its US$1bn acquisition of two Colorado gas peaking plants from Blackstone.
