TransAlta Renewables Inc. Declares Dividends

CALGARY, ALBERTA--(Marketwired - July 28, 2014) - The Board of Directors of TransAlta Renewables Inc. ("TransAlta Renewables") (TSX:RNW) today declared dividends of $0.06416 per common share payable on September 30, 2014, October 31, 2014 and November 28, 2014 to shareholders of record at the close of business on September 2, 2014, October 1, 2014 and November 3, 2014 respectively.

All currency is expressed in Canadian dollars except where otherwise noted.

About TransAlta Renewables

TransAlta Renewables owns 29 wind and hydroelectric power generation facilities, having an aggregate installed generating capacity of 1,376 MW, in which it holds a net ownership interest of approximately 1,255 MW. TransAlta Renewables' power generating capacity is among the largest of any publicly-traded renewable independent power producer ("IPP") in Canada, with more wind power generating capacity than any other Canadian publicly-traded IPP. TransAlta Renewables' strategy is focused on the efficient operation of its portfolio of renewable power generation assets and expanding its asset base through the acquisition of additional renewable power generation facilities in operation or under construction. TransAlta Renewables objective is to (i) create stable, consistent returns for investors through the ownership of contracted renewable power generation assets that provide stable cash flow through long-term power purchase agreements with creditworthy counterparties, including TransAlta; (ii) pursue and capitalize on strategic growth opportunities in the renewable power generation sector; and (iii) pay out a portion of cash available for distribution to the shareholders of TransAlta Renewables on a monthly basis.

TransAlta Renewables Inc. - Investor inquiries:
Brent Ward
Director, Corporate Finance and Investor Relations
1-800-387-3598 in Canada and U.S.
[e-mail]

TransAlta Renewables Inc. - Media inquiries:
Stacey Hatcher
Manager, Communications
Cell: 587-216-2242 or Toll-free media number: 1-855-255-9184
Alternate local number: 403-267-2540
[e-mail]