TransAlta Renewables Inc. announced that it has entered into definitive agreements for the acquisition of a 122 MW portfolio of operating solar facilities located in North Carolina. The assets will be acquired from a fund managed by Copenhagen Infrastructure Partners for USD 96.65 million, subject to working capital adjustments and the assumption of existing tax equity obligations. The acquisition will be funded using existing liquidity. Income distributions to the Company will be net of cash and tax attributes provided to the tax equity investor. The acquisition is subject to customary regulatory approvals and is expected to close in the fourth quarter of 2021. The transaction is structured so that at closing, TransAlta Renewables will acquire a 100% economic interest in North Carolina Solar from a wholly-owned subsidiary of TransAlta Corporation through a tracking share structure.