On February 16, 2023, TransAlta Corporation, Alberta's largest hydro-electric power producer, has agreed to acquire a 50% interest in the Tent Mountain Renewable Energy Complex from Australia-based Montem Resources Limited for approximately $33.7 million (US$25 million). The hydro energy storage development project in Alberta is expected to have an 80-year lifespan and minimal impact on Alberta’s natural river system due to its closed-loop system. TransAlta will act as the project developer, with construction beginning as early as 2026 and commercial operation anticipated between 2028 and 2030. The deal is expected to close in March 2023. The announcement does not disclose the law firms involved in the transaction.