<SEC-DOCUMENT>0001279569-21-001325.txt : 20210930
<SEC-HEADER>0001279569-21-001325.hdr.sgml : 20210930
<ACCEPTANCE-DATETIME>20210930095005
ACCESSION NUMBER:		0001279569-21-001325
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20210928
FILED AS OF DATE:		20210930
DATE AS OF CHANGE:		20210930

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TRANSALTA CORP
		CENTRAL INDEX KEY:			0001144800
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15214
		FILM NUMBER:		211293920

	BUSINESS ADDRESS:	
		STREET 1:		110 12TH AVE SW BOX 1900 STATION M
		STREET 2:		CALGARY ALBERTA T2P 2MI
		CITY:			CALGARY
		STATE:			A0
		ZIP:			T2P2M1
		BUSINESS PHONE:		403-267-4724

	MAIL ADDRESS:	
		STREET 1:		110-12TH AVENUE SW
		CITY:			CALGARY ALBERTA CANADA
		STATE:			A0
		ZIP:			T2P2M1
</SEC-HEADER>
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<TYPE>6-K
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<DESCRIPTION>FORM 6-K
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<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 10pt 0 0; text-align: center">UNITED STATES</P>

<P STYLE="font: bold 16pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center"><FONT STYLE="font-size: 14pt">SECURITIES
AND EXCHANGE COMMISSION<BR>
</FONT><FONT STYLE="font-size: 12pt">WASHINGTON, D.C. 20549 </FONT></P>

<P STYLE="font: bold 18pt Times New Roman, Times, Serif; margin: 10pt 0 6pt; text-align: center">FORM 6-K</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center">REPORT OF FOREIGN PRIVATE ISSUER<BR>
PURSUANT TO RULE&nbsp;13a-16 OR 15d-16<BR>
UNDER THE SECURITIES EXCHANGE ACT OF 1934</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: center"><B>For the month of September, 2021<BR>
Commission File Number 001-15214</B></P>

<P STYLE="font: bold 16pt Times New Roman, Times, Serif; margin: 10pt 0 6pt; text-align: center"><FONT STYLE="font-size: 20pt">TRANSALTA
CORPORATION<BR>
</FONT><FONT STYLE="font-size: 10pt; font-weight: normal">(Translation of registrant's name into English)</FONT></P>
<P STYLE="font: bold 16pt Times New Roman, Times, Serif; margin: 10pt 0 6pt; text-align: center"><FONT STYLE="font-size: 10pt; font-weight: normal"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: center"><B>110-12th Avenue S.W., Box 1900, Station &ldquo;M&rdquo;,
Calgary, Alberta, Canada, T2P 2M1</B><BR>
(Address of principal executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">&nbsp;</P>

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    <TD STYLE="width: 50%; font: bold 12pt Times New Roman, Times, Serif; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; font-weight: normal">Form&nbsp;40-F&nbsp;<FONT STYLE="font-family: Wingdings">&#254;</FONT></FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">Indicate by check mark if the registrant is
submitting the Form 6-K in paper as permitted by Regulation&nbsp;S-T Rule&nbsp;101(b)(1). _____</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">Indicate by check mark if the registrant is
submitting the Form 6-K in paper as permitted by Regulation&nbsp;S-T Rule&nbsp;101(b)(7). _____</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: left">Signatures</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 24pt 0 0 3in"><B>&nbsp;</B></P>

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<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt"><B>TRANSALTA CORPORATION</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 13%; font-size: 10pt">By:</TD>
    <TD STYLE="width: 87%; border-bottom: Black 1pt solid; font-size: 10pt">/s/ Todd Stack</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">Name: Todd Stack</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">Title: Chief Financial Officer</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0">Date: September 28, 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: center">EXHIBIT INDEX</P>

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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 1pt solid"><B>Exhibit Number</B></P></TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 81%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 1pt solid"><B>Description of Document</B></P></TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><A HREF="ex991.htm">99.1</A></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><A HREF="ex991.htm">"TransAlta Establishes Renewables Growth Targets and Declares Dividend Increase
of 11%&rdquo;"</A></TD></TR>
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<DESCRIPTION>NEWS RELEASE DATED SEPTEMBER 28, 2021
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<P STYLE="margin: 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Exhibit 99.1</B></FONT></P>

<P STYLE="margin: 0; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="margin: 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&nbsp;</B></FONT>&nbsp;</P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: bold 24pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">TransAlta Establishes Renewables Growth Targets
and Declares Dividend Increase of 11%</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>Highlights</B></P>

<UL STYLE="list-style-type: disc">

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">TransAlta has established targets to deliver 2 GW of incremental
renewables capacity with a targeted investment of $3 billion by 2025</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">TransAlta will accelerate its growth with a focus on customer-centred
renewables and storage through the execution of its 3 GW development pipeline</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">TransAlta will suspend the Sundance&nbsp;Unit 5 repowering</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">TransAlta will retire Keephills Unit 1 effective December 31,
2021, and retire Sundance Unit 4 effective April 1, 2022</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">TransAlta's Board of Directors has approved an 11 per cent dividend
increase on its common shares</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">TransAlta will be completely off-coal by the end of 2025 and will
realize a 70% reduction on carbon emissions by 2030 against a 2005 baseline</LI>

</UL>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">CALGARY, AB, Sept. 28, 2021 /CNW/ - TransAlta Corporation
(&quot;TransAlta&quot; or the &quot;Company&quot;) (TSX: TA) (NYSE: TAC) is pleased to announce its strategic growth targets, which strengthen
the Company's commitment to being a leader in clean electricity by delivering customer-centered power solutions. &nbsp;The strategic growth
targets include adding 2 GW of new capacity to the Company's fleet, and investing approximately $3 billion developing, constructing and
acquiring new assets by the end 2025.&nbsp;</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">&quot;We have significant growth aspirations across
Canada, the United States and Australia &nbsp;with a focus on renewable and storage power solutions for large customers,&quot; remarked
John Kousinioris, President and Chief Executive Officer of TransAlta. &quot;As we look forward to 2025, we are confident in our investment
strategy and the decision to expand further into contracted renewables with onshore wind, solar and battery storage across our platform.
We believe this enhanced customer focus on renewable generation and storage will provide significant value for our shareholders.&quot;&nbsp;</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">The Company is also pleased to announce that its Board
of Directors (the &quot;Board&quot;) has approved an 11 per cent increase on its common share (&quot;Common Share&quot;) dividend and
declared a dividend of $0.05 per Common Share to be payable on January 1, 2022 to shareholders of record at the close of business on December
1, 2021. The quarterly dividend of $0.05 per Common Share represents an annualized dividend of $0.20 per Common Share.&nbsp;&nbsp;</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">&quot;This decision represents the third dividend
increase by the Company in the past two years and reflects the Board's confidence in the Company's strategic direction while affirming
the Company's commitment to realizing returns for its shareholders,&quot; said John Kousinioris. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>Alberta Thermal Retirements and Suspension of Sundance
5 Repowering&nbsp; </B></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">Following an in-depth evaluation and assessment of
the&nbsp;Sundance&nbsp;Unit 5 repowering project, the Company has determined to suspend the project.&nbsp; This decision was made due
to escalating costs, changing supply and demand dynamics and forecasted power prices in the&nbsp;Alberta&nbsp;market, as well as risks
associated with the evolving regulatory environment.&nbsp; The Company expects to redeploy the capital previously allocated to the Sundance
Unit 5 repowering to renewable growth projects.&nbsp;</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">In addition, the Company has determined to retire
Keephills Unit 1 effective December 31, 2021, and to retire Sundance Unit 4 effective April 1, 2022, and has provided notice to the Alberta
Electric System Operator of its intention to retire such units.&nbsp; The retirement decisions were largely driven by TransAlta's assessment
of future market conditions, the age and condition of the units and the Company's strategic focus toward customer-centred renewable energy
solutions. These retirements further support the Company's decarbonization efforts, which also include ceasing all coal fired generation
in Canada by the end of 2021 and across its fleet by the end of 2025.&nbsp; TransAlta expects that by 2030, it will reduce emissions by
70 per cent over 2005 levels and it remains committed to achieving carbon neutrality by 2050.&nbsp;&nbsp;</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>Accelerating Customer-Centred Clean Electricity
Growth Plan</B></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">The Company's recently adopted strategic growth targets
include:</P>

<UL STYLE="list-style-type: disc">

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">delivering 2 GW of incremental renewables capacity with a targeted
investment of $3 billion by the end of 2025. Already this year the company has announced 300 MW of new build projects and asset acquisitions
and has 500 MW in advanced-stage development;</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">accelerating growth into customer-centred renewables and storage
through the development of its 3 GW development pipeline;</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">expanding the Company's development pipeline to 5 GW by 2025 to
enable a two-fold increase in its renewables fleet by 2030;</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">realizing targeted diversification and value creation by focusing
on expanding our platform in each of our core geographies (Canada, United States and Australia); and</LI>

<LI STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 12pt">by the end of 2025, defining the next generation of power solutions
and technologies and potential for parallel investments in new complementary sectors.</LI>

</UL>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">The Company is actively advancing its development
pipeline, which currently consists of 1.2 GW in the United States, up to 2 GW in Canada and 270 MW in Australia.&nbsp; The recently announced
acquisition of a 122 MW portfolio of operating solar facilities located in North Carolina, which is expected to close in mid-October,
will represent a significant expansion of the Company's solar generation.&nbsp; The Company intends to further expand its solar generation
by actively pursuing solar opportunities in the United States and Australian markets.&nbsp; The Company is also focused on pursuing hybrid
integrated power solutions with customers.&nbsp;</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>Investor Day</B></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">TransAlta will be hosting an Investor Day later today
at 10:00 am EDT during which our executive team will discuss our strategic objectives and growth targets, our leading approach to environment,
social and governance matters, our strategy to optimize and maintain our competitive advantage in Alberta, our commitment to delivering
operational excellence, and our financial strategy and plan.&nbsp;&nbsp;The presentation will be broadcast live via webcast with video
and will be accessible by web browser.&nbsp; The recorded video webcast and corresponding presentation will also be made available on
the Investor Centre section of TransAlta's website at http://www.transalta.com/investors/events-and-presentations following the event.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">Webcast attendees can pre-register to receive web
access information for the live event below.&nbsp; Registration for the event can also be found in the Investor Centre of TransAlta's
website.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">2021 Virtual Investor Day Webcast Registration Link:<BR>
https://transaltainvestorday.can.chime.live/app/app.html</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">Event details:<BR>
2021 Investor Day &ndash; TransAlta<BR>
September 28, 2021<BR>
Start time: 8:00 a.m. MT / 10:00 a.m. EDT</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B><I>About TransAlta Corporation:</I></B></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><I>TransAlta owns, operates and develops a diverse
fleet of electrical power generation assets in Canada, the United States and Australia with a focus on long-term shareholder value. TransAlta
provides municipalities, medium and large industries, businesses and utility customers clean, affordable, energy efficient, and reliable
power. Today, TransAlta is one of Canada's largest producers of wind power and Alberta's largest producer of hydroelectric power. For
over 100 years, TransAlta has been a responsible operator and a proud community-member where its employees work and live. TransAlta aligns
its corporate goals with the UN Sustainable Development Goals and we have been recognized by CDP (formerly Climate Disclosure Project)
as an industry leader on Climate Change Management, having recently achieved an A- score from CDP. </I></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><I>For more information about TransAlta, visit its
web site at transalta.com.</I></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B><I>Forward-Looking Statements</I></B></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><I>This news release contains &quot;forward-looking
information&quot;, within the meaning of applicable Canadian securities laws, and &quot;forward-looking statements&quot;, within the meaning
of applicable United States securities laws, including the United States Private Securities Litigation Reform Act of 1995 (collectively
referred to herein as &quot;forward-looking statements&quot;). Forward-looking statements are predictive in nature, depend upon or refer
to future events or conditions, or include words such as &quot;expects&quot;, &quot;anticipates&quot;, &quot;plans&quot;, &quot;predicts&quot;,
&quot;believes&quot;, &quot;estimates&quot;, &quot;intends&quot;, &quot;targets&quot;, &quot;projects&quot;, &quot;forecasts&quot; or
negative versions thereof and other similar expressions or future or conditional verbs such as &quot;may&quot;, &quot;will&quot;, &quot;should&quot;,
&quot;would&quot; and &quot;could&quot;. These statements may include, without limitation, statements regarding: TransAlta's ability to
maintain and execute its strategy,&nbsp; including&nbsp; forecasted growth capital expenditures; expanding the Company's development pipeline;
realizing diversification and value creation in Canada, the U.S. and Australia; the retirement of Sundance Unit 4 and Keephills Unit 1;
and the suspension of the Sundance 5 repowering. </I></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><I>These forward-looking statements are based upon
certain material factors or assumptions that were applied in developing the forward-looking statements, including the design specifications
of development projects, the provisions of contracts to which TransAlta or a subsidiary is a party, management's current plans and its
perception of historical trends, current conditions and expected future developments, as well as other factors that are believed to be
appropriate in the circumstances. Some of the factors, many of which are beyond TransAlta's control and the effects of which can be difficult
to predict, but may cause actual results to differ materially from those contemplated or implied by forward-looking statements include,
but are not limited to: more restrictive directives of government and public health authorities; reduced labour availability and ability
to continue to staff our operations and facilities; disruptions to our supply chains, including our ability to secure necessary equipment
and to obtain regulatory approvals on the expected timelines, or at all; force majeure claims; curtailments reducing merchant production;
our ability to maintain our credit ratings; restricted access to capital and increased borrowing costs; increased costs, including those
resulting from our efforts to mitigate the impact of COVID-19; regulatory and environmental processes delays; adverse impacts on our information
technology systems and our internal control systems; political uncertainty; disruptions in the transmission and distribution of electricity;
the effects of weather, natural disasters and other climate-related risks; results and exposures of our Energy Marketing segment, including
deviations from historical variances; disruptions to our operations, including unplanned outages, equipment failure and our ability to
carry out repairs in a cost-effective or timely manner; and general competition and industry risks. We caution that the foregoing list
of important factors that may affect future results is not exhaustive. When relying on our forward-looking statements, investors and others
should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, we undertake
no obligation to publicly update or revise any forward-looking statements or information in this news release, whether as a result of
new information, future events or otherwise. Past performance is not indicative nor a guarantee of future results. The foregoing risk
factors, among others, are described in further detail in the Corporation's Management's Discussion and Analysis and Annual Information
Form for the year ended December 31, 2020, which are available on SEDAR at </I>www.sedar.com<I>&nbsp;and&nbsp;with&nbsp;the U.S. Securities
and Exchange Commission at www.sec.gov. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect
the Corporation's expectations only as of the date of this news release. The purpose of the financial outlooks contained in this news
release are to give the reader information about management's current expectations and plans and readers are cautioned that such information
may not be appropriate for other purposes and is given as of the date of this news release. The Corporation disclaims any intention or
obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, except
as required by law.</I></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><IMG SRC="image_001.gif" ALT="Cision" STYLE="height: 12px; width: 12px">View
original content:https://www.prnewswire.com/news-releases/transalta-establishes-renewables-growth-targets-and-declares-dividend-increase-of-11-301386352.html</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">SOURCE TransAlta Corporation</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><IMG SRC="image_001.gif" ALT="Cision" STYLE="height: 12px; width: 12px">View
original content: http://www.newswire.ca/en/releases/archive/September2021/28/c4240.html</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">%CIK: 0001144800</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0"><B>For further information: </B>Investor Inquiries:Phone: 1-800-387-3598
in Canada and U.S., Email: investor_relations@transalta.com; Media Inquiries: Phone: Toll-free media number: 1-855-255-9184, Email: ta_media_relations@transalta.com</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">CO: TransAlta Corporation</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">CNW 06:59e 28-SEP-21</P>

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