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CalEnergy, LLC and Salt River Project Execute Power Purchase Agreement for Delivery of Geothermal Energy to Arizona

For more information, contact:
Julie White, Director, Communications, CalEnergy, LLC, at 515-281-2785

IMPERIAL VALLEY, Calif. – (Sept. 17, 2013) – Today, CalEnergy, LLC, a subsidiary of MidAmerican Energy Holdings Company and TransAlta Corporation (TSX: TA; NYSE: TAC), executed an agreement with Salt River Project that will provide Arizona residents and businesses with additional renewable geothermal energy until 2039. Salt River Project’s 50 megawatt purchase builds upon an agreement with another purchaser announced earlier this year for 86 megawatts. When combined, the power purchase agreements represent 40 percent of the total capacity of CalEnergy’s Imperial Valley geothermal facilities.

“It is exciting to welcome Salt River Project to our list of growing customers and to send renewable baseload power to Arizona,” said Steve Larsen, president of CalEnergy, LLC, which is located near Calipatria, Calif., and within the Imperial Valley and the Salton Sea Known Geothermal Resource Area. “This contract builds on our earlier agreement with the city of Riverside and will bring the benefits associated with our geothermal portfolio to key customers for the next 30 years.”

Earlier this year, the company announced its new portfolio contract structure for geothermal marketing. Rather than contracting power from individual facilities, the facilities are marketed together as a group providing a more diversified supply and additional flexibility regarding volume and timing to meet customers’ renewable energy supply needs. Customers have the ability to secure contracts in increments as low as 5 megawatts.

CalEnergy will be investing more than $1 billion in capital improvements to its existing facilities to sustain its Salton Sea facilities for another 30 years.

“We remain committed to the importance of economic development in the Imperial Valley area, where our power plants are located,” said Larsen. “It is important to the future of our community and environment, and we will continue doing our part to facilitate growth of the renewable energy economy.”

CalEnergy, LLC
CalEnergy, LLC was formed by TransAlta and MidAmerican Energy Holdings Company to lead the remarketing initiative required to extend the life of CE Generation, LLC’s 10 geothermal generating facilities in the Salton Sea Known Geothermal Resource Area. MidAmerican Geothermal, a subsidiary of MidAmerican Renewables, oversees the 10 geothermal facilities in California’s Imperial Valley. Information about MidAmerican Renewables and MidAmerican Geothermal is available on the company’s website and its Twitter, Facebook and YouTube pages, which can be accessed via www.midamericanrenewablesllc.com.

TransAlta is a power generation and wholesale marketing company focused on creating long-term shareholder value. TransAlta maintains a low-to-moderate risk profile by operating a highly contracted portfolio of assets in Canada, the United States and Australia. TransAlta’s focus is to efficiently operate geothermal, wind, hydro, natural gas and coal facilities in order to provide customers with a reliable, low-cost source of power. For over 100 years, TransAlta has been a responsible operator and a proud contributor to the communities in which it works and lives. TransAlta has been selected by Jantzi-Sustainalytics as one of Canada’s Top 50 Socially Responsible Companies since 2009 and is recognized globally for its leadership on sustainability and corporate responsibility standards by FTSE4Good. Information about TransAlta is available at www.transalta.com.

MidAmerican Energy Holdings Company
MidAmerican Energy Holdings Company, based in Des Moines, Iowa, is a global provider of energy services. Through its energy-related businesses, MidAmerican provides electric and natural gas service to more than 7 million customers worldwide. These businesses are Pacific Power, Rocky Mountain Power and PacifiCorp Energy, comprising PacifiCorp; MidAmerican Energy Company; Northern Powergrid Holdings Company; Northern Natural Gas Company; Kern River Gas Transmission Company; MidAmerican Renewables; and CalEnergy Philippines. Information about MidAmerican is available at www.midamerican.com.