CPS Energy to Acquire Gas Plants from Talen Energy for $785 Million
(Reuters) — Utility firm CPS Energy said on Wednesday it would buy natural gas plants in Corpus Christi and Laredo in Texas from Talen Energy for $785 million.
Talen Energy Supply, a unit of Talen Energy Corp. that holds several of its power plants, in 2022 had received court permission to begin soliciting creditor votes on a bankruptcy restructuring plan.
Last year, it completed the restructuring.
The acquisition adds 1,710-megawatt (MW) generation portfolio, located in the south zone of the Electric Reliability Council of Texas (ERCOT), to CPS' capacity.
It also aligns with the company's plan to retire older units and add a blend of gas, solar, wind, and energy storage.
The assets include Talen's 897 MW Barney Davis and 635 MW Nueces Bay natural gas-fired generation facilities in Corpus Christi and 178 MW facility in Laredo.
The transaction is expected to close in the second quarter.
CPS Energy is a community-owned provider of electric and natural gas services and services about 907,526 electric and 373,988 natural gas customers in San Antonio and portions of seven adjoining counties.
Related News
Related News
- 1,000-Mile Pipeline Exit Plan by Hope Gas Alarms West Virginia Producers
- Valero Plans to Shut California Refinery, Takes $1.1 Billion Hit
- Greenpeace Ordered to Pay $667 Million to Energy Transfer Over Dakota Access Pipeline Protests
- Three Killed, Two Injured in Accident at LNG Construction Site in Texas
- Boardwalk’s Texas Gas Launches Open Season for 2 Bcf/d Marcellus-to-Louisiana Pipeline Expansion
- New Alternatives for Noise Reduction in Gas Pipelines
- Construction Begins on Ghana's $12 Billion Petroleum Hub, But Not Without Doubts
- Missouri Loses Control Over 1.5 Million-Mile Gas Pipeline Network as Feds Step In
- South Dakota Governor Signs Bill Banning Eminent Domain for Carbon Pipeline
- Woodside May Delay Final Investment Decision on Louisiana LNG to Q2, CEO Says
Comments