Canadian electricity generation company TransAlta has agreed to acquire a 50% interest in an early-stage 320MW pumped-hydro energy storage project in Canada. The Tent Mountain Renewable Energy Complex is located in south-west Alberta and is currently owned by Montem Resources. TransAlta will pay Montem around $8m upon completion of the deal, as well as up to $17m if certain development and commercial ‘milestones’ are met.