Talen Energy To Buy 2.6 GW Of Gas Plants From ECP For $3.45 Billion

Reuters01-15

Jan 15 (Reuters) - U.S. power producer Talen Energy TLN.O said on Thursday it would buy about 2.6 gigawatts of natural gas-fired generation capacity from private equity firm Energy Capital Partners for $3.45 billion.

Talen shares surged 12% in premarket.

The deal underscores a broader push by U.S. power producers to scale up gas-fired generation as data center demand and electrification drive rising power consumption, particularly in PJM, the country's largest grid operator.

Talen's deal with Energy Capital includes the Waterford Energy Center and Darby Generating Station in Ohio, and the Lawrenceburg Power Plant in Indiana.

The power producer said the deal comprises about $2.55 billion in cash and roughly $900 million in stock.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment