TransAlta, an electricity power generator and wholesale marketing company, agreed to acquire Heartland Generation, a power generation company, from Energy Capital Partners, an American investment firm, for $658m. "With this acquisition we are pleased to announce the addition of highly flexible and complementary assets to our Alberta portfolio. As the energy transition continues to drive new investment in renewables in the Province, our assessment is that the market will require low-cost, highly flexible and fast-responding generation, which will be supportive to grid reliability over the coming years. This transaction will support us in maintaining our competitive positioning and ensure we have a robust and diversified portfolio, which together with our marketing capabilities, can complement and support a cleaner grid," John Kousinioris, TransAlta President and CEO.