TransAlta Renewables Inc. Declares Dividends

CALGARY, ALBERTA--(Marketwired - July 30, 2015) - The Board of Directors of TransAlta Renewables Inc. ("TransAlta Renewables") (TSX:RNW) today declared dividends of $0.07 per common share payable on September 30, 2015, October 30, 2015 and November 30, 2015 to shareholders of record at the close of business on September 1, 2015, October 1, 2015 and November 2, 2015 respectively.

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

About TransAlta Renewables Inc.

TransAlta Renewables owns 16 wind and 12 hydroelectric power generation facilities, and holds economic interests in TransAlta's Wyoming Wind Farm and Australian Assets, having an aggregate installed generating capacity of 1,856 MW, in which it holds a net ownership interest of approximately 1,680 MW. TransAlta Renewables' economic interest in Australian assets consisting of 425 MW of power generation from six operating assets, which are operational and contracted under long-term contracts, and the 150 MW South Hedland project that is currently under construction, as well as the recently commissioned 270 km gas pipeline. 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 assets and expanding its asset base through the acquisition of high-quality contracted renewable and natural gas power generation facilities and other infrastructure assets. Our objectives are to (i) create stable, consistent returns for investors through the ownership of contracted renewable and, potentially, natural gas power generation and other infrastructure assets that provide stable cash flow through long-term contracts with creditworthy counterparties, including TransAlta Corporation; (ii) pursue and capitalize on strategic growth opportunities in the renewable and, natural gas power generation and other infrastructure sectors; and (iii) pay out a portion of cash available for distribution to the shareholders of the Company on a monthly basis.

Investor Inquiries
Brent Ward
Director, Corporate Finance and Investor Relations
1-800-387-3598 in Canada and U.S.
[e-mail]

Jaeson Jaman
Manager, Investor Relations
1-800-387-3598 in Canada and U.S.
[e-mail]

Media Inquiries
Leanne Yohemas
Senior Advisor, External Communications
Toll-free media number: 1-855-255-9184
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