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: