5 Best Canadian Infrastructure Stocks to Buy Now

4. TransAlta Corporation (NYSE:TAC)

On June 3, 2026, TransAlta Corporation (NYSE:TAC) announced that it entered into a purchase and sale agreement to acquire Mountain Peak Power and Canyon Peak Power, each an indirect subsidiary of Blackstone (BX). The project companies own two new natural gas peaking facilities near Denver, Colorado, with a combined capacity of 318 MW. TransAlta said the assets are expected to add approximately $80M of adjusted EBITDA per year from the 162 MW Mountain Peak Power and 156 MW Canyon Peak Power facilities. The total transaction value of $1B includes the assumption of $750M of senior secured project-level debt and $250M of equity. Mountain Peak Power has been operating since September 2025, while Canyon Peak Power is expected to achieve commercial in-service in the third quarter. The acquisition is subject to Canyon Peak Power achieving commercial in-service and customary closing conditions, including regulatory approvals, and is expected to close early in the fourth quarter of 2026.

Last month, BMO Capital analyst Ben Pham lowered the firm’s price target on TransAlta Corporation (NYSE:TAC) to C$25 from C$27 and maintained an Outperform rating on the shares. TD Securities analyst John Mould also lowered the firm’s price target on TransAlta to C$26 from C$27 and maintained a Buy rating.

Earlier in May, TransAlta reported Q1 adjusted EPS of C$0.60, compared with C$0.10 last year, and revenue of C$565M, compared with C$758M last year. CEO Joel Hunter said the company’s hedging strategy and contracted portfolio helped it navigate a challenging price environment.

TransAlta Corporation (NYSE:TAC) develops, produces, and sells electric energy.