TransAlta Acquires Far North Power for C$95M
On February 2, 2026, TransAlta Corporation ("TransAlta") completed its C$95 million acquisition of Far North Power Corporation ("Far North Power"), an entity formed by Hut 8 and Macquarie Equipment Finance Ltd., a subsidiary of Macquarie Group Limited, along with its business operations in Ontario. The acquisition included four natural gas-fired generation facilities that recently secured five-year capacity contracts through the Ontario IESO Medium-Term 2 Capacity Auction, totaling 310 MW.
TransAlta, headquartered in Calgary, AB is a power generator operating a diversified portfolio of hydro, wind, solar, natural gas, thermal and battery storage facilities across Canada, the United States and Australia.
McCarthy Tétrault LLP advised TransAlta with a team led by Alyson Goldman and Thomas McInerney that included Riley M. Thackray, Connor O’Brien, Kerri Lui (Business Law), Sean Collins, Jamey Gage, Nathan Stewart (Bankruptcy and Restructuring), Raj Juneja, Erica M. Hennessey, Randy Schwartz, Simon Douville, Hubert Cadotte, Justin Ng, Giorgina T. Chum (Tax), Benjamin T. Aberant, Julia Miller, Aliya Hemani (Labour & Employment), Gwenyth Wren (Environmental, Regulatory and Aboriginal), William D. McCullough, Anthony Salandra (Real Property and Planning), Laura Weingarden (Environmental), Gordon M. Nettleton, Ljuba Djurdjevic (Energy Regulatory), Audrey Bouffard‑Nesbitt, Tyson M. Jackson (Financial Services), and Sean S. Smyth (Litigation).
