Transalta Completes Purchase of Mega

Calgary, AB. -- TransAlta has announced it will acquire the remaining 50 per cent interest of Merchant Energy Group of the Americas (MEGA) from Gener S.A. for approximately $2 million US, pending regulatory approval.

TransAlta has filed the application for regulatory approval, which is expected to take about 45 days. This will give TransAlta full ownership of the U.S.-based company. In June 2000, TransAlta acquired its original 50 per cent position in MEGA as a platform for growth in gas-fired power generation in the U.S. MEGA was established in 1998 and is based in Annapolis, Maryland.