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    RNW   CA8934631091

TRANSALTA RENEWABLES INC.

(RNW)
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BHP, Canada's TransAlta to build solar farms at Western Australia nickel site

07/29/2021 | 10:15pm EDT

July 30 (Reuters) - BHP Group Ltd said on Friday it would build two solar farms and a battery storage system in partnership with Canada's TransAlta Renewables Inc at its nickel project site in Western Australia.

The global miner said the project will help reduce carbon emissions by 12% compared with 2020 levels at its Mt Keith and Leinster operations, where power is currently being generated through diesel and gas turbines.

The proposed solar farms will also help produce sustainable low-carbon nickel used in electric-vehicle batteries, BHP said, for which the company signed a supply agreement with Tesla Inc last week.

The project will contribute to the miner's medium-term target to reduce scope 1 and 2 emissions from its assets by at least 30% from 2020 levels by 2030, it said. (https://bit.ly/3rFGxHk)

BHP said the construction of the farms is scheduled to begin in the second quarter of 2022 and would take 12 to 14 months for completion. (Reporting by Savyata Mishra in Bengaluru; Editing by Ramakrishnan M.)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BHP GROUP -0.72% 38.38 End-of-day quote.-9.55%
TESLA, INC. 0.23% 753.64 Delayed Quote.6.56%
TRANSALTA RENEWABLES INC. -0.46% 19.61 Delayed Quote.-9.47%
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Analyst Recommendations on TRANSALTA RENEWABLES INC.
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Financials
Sales 2021 473 M 374 M 374 M
Net income 2021 198 M 157 M 157 M
Net Debt 2021 973 M 769 M 769 M
P/E ratio 2021 28,9x
Yield 2021 4,80%
Capitalization 5 257 M 4 149 M 4 152 M
EV / Sales 2021 13,2x
EV / Sales 2022 12,1x
Nbr of Employees -
Free-Float 39,9%
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Technical analysis trends TRANSALTA RENEWABLES INC.
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Mean consensus HOLD
Number of Analysts 13
Last Close Price 19,61 CAD
Average target price 20,19 CAD
Spread / Average Target 2,97%
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Managers and Directors
Todd J. Stack President
Brent Ward Chief Financial Officer
Allen R. Hagerman Chairman
David William Drinkwater Independent Director
Kathryn B. McQuade Independent Director
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