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Non-Controlling Interests | 12 Months Ended
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Dec. 31, 2018
Interests In Other Entities [Abstract] |
Non-Controlling Interests | Non-Controlling Interests The Corporation’s subsidiaries and operations that have non-controlling interests are as follows:
Subsidiary/Operation | Non-controlling interest as at Dec. 31, 2018
TransAlta Cogeneration L.P. | 49.99% - Canadian Power Holdings Inc.
TransAlta Renewables | 39.1% - Public shareholders
Kent Hills Wind LP(1) | 17% - Natural Forces Technologies Inc.
(1) Owned by TransAlta Renewables. TransAlta Cogeneration, L.P. (“TA Cogen”) operates a portfolio of cogeneration facilities in Canada and owns 50 per cent of a coal facility. TransAlta Renewables owns and operates a portfolio of gas and renewable power generation facilities in Canada and owns economic interests in various other gas and renewable facilities of the Corporation. Summarized financial information relating to subsidiaries with significant non-controlling interests is as follows: A. TransAlta Renewables The net earnings, distributions and equity attributable to non-controlling interests include the 17 per cent non-controlling interest in the 167 MW Kent Hills wind farm located in New Brunswick. The South Hedland Power Station achieved commercial operation on July 28, 2017. On Aug. 1, 2017, the Corporation converted its 26.1 million Class B shares held in TransAlta Renewables into 26.4 million common shares of TransAlta Renewables. At that time, the Corporation’s equity participation percentage in TransAlta Renewables increased to 64 per cent from 59.8 per cent. The Class B shares were converted at a ratio greater than 1:1 because the construction and commissioning costs for the project were below the referenced costs agreed to with TransAlta Renewables. On May 31, 2018, TransAlta Renewables implemented a dividend reinvestment plan ("DRIP") for Canadian holders of common shares of TransAlta Renewables. Commencing with the dividend paid on July 31, 2018, eligible shareholders may elect to automatically reinvest monthly dividends into additional common shares of the Corporation. As a result of the conversion of Class B shares, the DRIP and the transactions described in Note 4, the Corporation’s share of ownership and equity participation in TransAlta Renewables has fluctuated since its formation as follows:
Period | Ownership and voting rights percentage | Equity participation percentage
April 29, 2014 to May 6, 2015 | 70.3 | 70.3
May 7, 2015 to Nov. 25, 2015 | 76.1 | 72.8
Nov. 26, 2015 to Jan. 5, 2016 | 66.6 | 62.0
Jan. 6, 2016 to July 31, 2017 | 64.0 | 59.8
Aug. 1, 2017 to June 21, 2018 | 64.0 | 64.0
June 22, 2018 to July 30, 2018 | 61.1 | 61.1
July 31, 2018 to Nov. 29, 2018 | 61.0 | 61.0
Nov. 30, 2018 to Dec. 31, 2018 | 60.9 | 60.9
Year ended Dec. 31 | 2018 |  | 2017 |  | 2016 |
Revenues | 462 |  | 459 |  | 259 |
Net earnings | 241 |  | 13 |  | 1 |
Total comprehensive income | 281 |  | (24 | ) | 40 |
Amounts attributable to the non-controlling interests: |  |  |  |  |
Net earnings | 94 |  | 11 |  | 2 |
Total comprehensive income | 110 |  | — |  | 18 |
Distributions paid to non-controlling interests | 79 |  | 85 |  | 83 |
As at Dec. 31 | 2018 |  | 2017 |
Current assets | 250 |  | 145 |
Long-term assets | 3,497 |  | 3,483 |
Current liabilities | (159 | ) | (356 | )
Long-term liabilities | (1,192 | ) | (1,075 | )
Total equity | (2,396 | ) | (2,197 | )
Equity attributable to non-controlling interests | (961 | ) | (812 | )
Non-controlling interests’ share (per cent) | 39.1 |  | 36.0 |
B. TA Cogen
Year ended Dec. 31 | 2018 |  | 2017 |  | 2016 |
Results of operations |  |  |  |  |  |
Revenues | 185 |  | 175 |  | 274 |
Net earnings | 29 |  | 61 |  | 211 |
Total comprehensive income | 29 |  | 61 |  | 258 |
Amounts attributable to the non-controlling interest: |  |  |  |  |  |
Net earnings | 14 |  | 31 |  | 105 |
Total comprehensive income | 14 |  | 31 |  | 128 |
Distributions paid to Canadian Power Holdings Inc. | 86 |  | 87 |  | 68 |
As at Dec. 31 | 2018 |  | 2017 |
Current assets | 82 |  | 193 |
Long-term assets | 354 |  | 404 |
Current liabilities | (54 | ) | (73 | )
Long-term liabilities | (28 | ) | (26 | )
Total equity | (354 | ) | (498 | )
Equity attributable to Canadian Power Holdings Inc. | (176 | ) | (247 | )
Non-controlling interest share (per cent) | 49.99 |  | 49.99 |

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