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TM TransAlta News Release TransAlta Reports Exceptional Third Quarter 2021 Results and Increases Annual Guidance CALGARY , Alberta ( Nov. 9 , 2021 ) Third Quarter 2021 Highlights • • Comparable EBITDA ( ¹ ) of $ 381 million , an increase of $ 125 million or 49 per cent compared to the same period in 2020 Free cash flow ( " FCF " ) ( 1 ) of $ 189 million or $ 0.70 per share compared to $ 106 million or $ 0.39 per share , a 79 per cent increase on a per - share basis over the same period in 2020 • Hydro segment delivered $ 82 million of comparable EBITDA , an increase of $ 54 million compared to the same period in 2020 • • Alberta Thermal segment delivered $ 104 million of comparable EBITDA , an increase of $ 57 million compared to the same period in 2020 Adjusted availability was 89.2 per cent compared to 91.5 per cent for the same period in 2020 , largely impacted by outages in the Alberta fleet Other Highlights • • • Announced Clean Electricity Growth Plan , establishing targets to deliver 2 GW of incremental renewables capacity with investment of $ 3 billion by 2025 Announced an 11 per cent increase to its common share dividend and declared a dividend of $ 0.05 per common share to be payable on Jan. 1 , 2022 to shareholders of record at the close of business on Dec. 1 , 2021 Announced the development of the 48 MW Northern Goldfields Solar and Storage Project for BHP Billiton Nickel West , with full notice to proceed issued to the EPC contractor and construction activities expected to commence in the first quarter of 2022 Announced the decision to suspend the Sundance Unit 5 repowering project and the retirements of Keephills Unit 1 at the end of 2021 , and Sundance Unit 4 in 2022 , retiring approximately 1,200 MW of coal - fired capacity Subsequent Events & Updates • Closed the previously announced acquisition of the economic interest of a 122 MW portfolio of operating solar facilities located in North Carolina for approximately US $ 99 million and the assumption of tax equity obligations Completion of all construction activities at Windrise and on - track to reach commercial operations in November of 2021 2021 Revised Outlook With exceptional year - to - date results , the Company has increased its 2021 outlook as set out below : Comparable EBITDA range of $ 1.2 to $ 1.3 billion • FCF range of $ 500 to $ 560 million • Energy Marketing gross margin contribution range of $ 195 to $ 210 million TransAlta Corporation ( " TransAlta " or the " Company " ) ( TSX : TA ) ( NYSE : TAC ) today reported its financial results for the three and nine months ended Sept. 30 , 2021 .