04:57 PM EDT, 05/21/2024 (MT Newswires) -- TransAlta ( TAC ) was at last look up 1.8% in US after hours on Tuesday after it said the 200-MW Horizon Hill Wind Project, in Logan County, Oklahoma, entered commercial operation.

A statement noted the facility is fully contracted to Meta Platforms, which is receiving both clean electricity and environmental attributes from the new facility.

"Since 2020, Meta has supported its global operations with 100% wind and solar energy. As our footprint grows, it's key that we find strong partners who can help us continue to meet that goal by bringing new renewable energy to the grid," said Urvi Parekh, head of renewable energy at Meta.

Meanwhile, TransAlta ( TAC ) chief executive John Kousinioris said: "We are pleased to bring our 30th wind facility, Horizon Hill, into service. The completion of the facility also concludes the significant construction program we started in 2021 through which we have added 800 MW of contracted renewable electricity to our portfolio. With the completion of Horizon Hill, over 60% of our fleet is now contracted on a megawatt basis."

"Horizon Hill also brings our US renewables fleet to over one GW, another key milestone for TransAlta ( TAC )," he added.

Tuesday's statement noted that on Feb. 22, TransAlta ( TAC ) entered into a 10-year transfer agreement with an AA- rated customer for the sale of approximately 80% of the expected production tax credits to be generated from Horizon Hill. The remaining PTCs are expected to be sold through spot transactions or contracted at a later date.

TransAlta ( TAC ) shares were last seen up US$0.13 to US$7.33 after hours. They closed down C$0.01 at C$9.82 on the Toronto Stock Exchange.