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TransAlta Renewables Reports Fourth Quarter and Full Year 2020 Results and Provides Outlook for 2021
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Full-Year 2020 Financial Highlights
Adjusted funds from operations ("AFFO")
(1) of $355 million, increase of 3% from 2019
Cash available for distribution ("CAFD")
(1) of $304 million or $1.14 per share, increase of 3% on a per-share basis compared to 2019
TransAlta Renewables Inc. ("TransAlta Renewables" or the "Company") (TSX: RNW) announced today solid financial results for the three months and year ended December 31, 2020 along with its 2021 outlook.
"Despite the ongoing challenges that COVID-19 presents, our results for the year demonstrated the strength and resilience of our diversified portfolio and highlighted the growth in our business and underlying cash flows, " said Todd Stack, President. "With the most recent announced 303 MW of drop-downs effective for 2021, our focus now turns to executing further on our growth strategy by leveraging opportunities here in Canada and abroad in Australia and the US. Working with TransAlta, we have access to a significant pipeline of development and M&A opportunities to support our growth objectives."

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