August 1, 2017 / 6:28 AM / in 5 months

BRIEF-Transalta Renewables says Fortescue Metals Group to repurchase Solomon power station

Aug 1 (Reuters) - TransAlta Renewables Inc -

* TransAlta Renewables responds to Fortescue Metals Group’s notice to repurchase the Solomon power station

* Gross proceeds from repurchase are estimated to be approximately US$335 million

* Will utilize proceeds in part to repay credit facility used to fund development of South Hedland power station

* TransAlta Renewables- reaffirms cash available for distribution guidance for 2017, and expects CAFD for 2018 to be in line with market expectations

* Expects CAFD for 2018 to be in line with market expectations.

* FMG intends to assume operation and control of power station in November 2017 Source text for Eikon: Further company coverage:

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