TransAlta to build power station in Western Australia

TransAlta (TAC -0.6%) says it will build a gas power station in Western Australia for ~A$570M ($536M), after securing 25-year power purchase agreements with a new customer and an existing one in the region.

TAC says the new station will supply power to state-owned utility Horizon Power, the new customer, and existing customer Pilbara Infrastructure, a unit of Fortescue Metals (OTCPK:FSUMF).

TAC expects its business in Western Australia to increase to 16% of EBITDA by 2017, when the combined cycle gas power station is expected to be commissioned.

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