CALGARY, AB, Feb. 16, 2023 /CNW/ - TransAlta Corporation ("TransAlta" or the "Company") (TSX: TA ) (NYSE: TAC) announced today that it has entered into a definitive agreement to acquire a 50% interest in the Tent Mountain Renewable Energy Complex ("Tent Mountain" or the "Project"), an early-stage 320 MW pumped hydro energy storage development project, located in southwest Alberta, currently owned by Montem Resources Limited ("Montem") (ASX:MR1). TransAlta and Montem will form a partnership and jointly manage the Project, with TransAlta acting as project developer. The acquisition includes the land rights, fixed assets and intellectual property associated with the pumped hydro development project.