CPS Energy Acquires Gas Plants in Corpus Christi and Laredo From Talen Energy as Part of Approved Generation Plan
Natural gas plants provide necessary firming capacity to diversified portfolio to maintain reliability and affordability for customers.
SAN ANTONIO, March 27, 2024 /PRNewswire/ — Today, CPS Energy and Talen Energy Corporation (“Talen”) (OTCQX: TLNE) announced an agreement for CPS Energy to acquire Talen’s approximately 1,710-megawatt (“MW”) generation portfolio located in the South Zone of the Electric Reliability Council of Texas (“ERCOT”) market for $785 million subject to customary net working capital adjustments at closing. These assets include natural gas plants in Corpus Christi and Laredo. The transaction is expected to close in the second quarter of 2024.
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