The Board of TransAlta Renewables Inc. is currently made up of seven individuals, three of whom are nominated by TransAlta, four of whom are independent (pursuant to NI 52-110) and all of whom are “financially literate” as defined in NI 52-110 (subject to available exemptions in NI 52-110).
On Aug. 9, 2013, TransAlta Renewables Inc. entered into a Management, Administrative and Operational Services Agreement and a Governance and Cooperation Agreement with TransAlta Corporation. Pursuant to the Management, Administrative and Operational Services Agreement, TransAlta Corporation, on a sole and exclusive basis, provides TransAlta Renewables with all the general administrative services as may be required or advisable for the management of the affairs of TransAlta Renewables. The Governance and Cooperation Agreement provides that TransAlta Corporation is the primary vehicle through which TransAlta Renewables and its affiliates acquire and/or develop renewable and natural gas power projects. TransAlta Corporation and its affiliates are not required to allocate any minimum level of dedicated resources for the pursuit of renewable power generation opportunities nor is TransAlta Corporation or its affiliates required to offer any specific opportunities to TransAlta Renewables. Copies of the material contracts with TransAlta Renewables Inc. are available on TransAlta Renewables Inc.’s profile on SEDAR.
TransAlta Renewables’ senior management team has extensive experience developing, owning, operating, maintaining, and growing a large fleet of power generation assets.
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