Stock Track | TransAlta Soars 7.30% Intraday on Data Centre Agreement, Dividend Increase and Positive 2026 Outlook

Stock Track
Feb 27

TransAlta's stock soared 7.30% during intraday trading on Friday, reflecting strong investor optimism following a series of strategic announcements.

The surge is attributed to the company entering into a memorandum of understanding with Canada Pension Plan Investment Board and Brookfield to advance a major data centre development at its Keephills site in Alberta. The framework includes an initial long-term power purchase agreement for approximately 230 MW, with the potential for the project to scale up to 1 Gigawatt of load, positioning TransAlta as the exclusive site and power provider.

Concurrently, TransAlta announced an 8% increase to its common share dividend, marking the seventh consecutive annual dividend increase, and provided its 2026 financial outlook, expecting adjusted EBITDA between $950 million and $1,050 million. These positive developments appear to have overshadowed the quarterly adjusted net loss reported in the company's earnings release, driving significant investor confidence.

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