On February 16, 2023, TransAlta Corporation announced that it entered into a definitive agreement to acquire a 50 percent interest in the Tent Mountain Renewable Energy Complex, an early-stage pumped hydro storage development project located in southwest Alberta, from Montem Resources Limited. TransAlta and Montem will form a partnership and jointly manage the project with TransAlta acting as the project developer.
TransAlta is one of the largest renewable producers in Alberta, one of the largest producers of wind power in Canada and the largest producer of hydro-electric power in Alberta.
Osler, Hoskin & Harcourt LLP advised TransAlta Corporation with a team consisting of Paula Olexiuk (Energy and Construction), Kelsey Armstrong (Corporate), Shaira Nanji (Tax), Bryce Kustra (Real Estate) and Sander Duncanson (Regulatory, Indigenous and Environmental).