Talen Energy Receives Approval to Acquire 2.6 GW of PJM Natural Gas Assets in May 2026

en.Wedoany.com Reported - Independent power producer Talen Energy announced that it has received the remaining pending regulatory approvals to complete the acquisition of the Lawrenceburg Power Plant in Indiana, as well as the Waterford Energy Center and Darby Generating Station in Ohio, from Energy Capital Partners (ECP).

The acquisition will add approximately 2.6 gigawatts of natural gas-fired generation capacity to Talen's portfolio, at a purchase price of $3.45 billion, including approximately $2.55 billion in cash and approximately $900 million in Talen stock. Talen stated that this will "significantly expand" its footprint in the western PJM market and add more efficient baseload generation assets to its fleet.

The Lawrenceburg (1,218 MW) and Waterford (869 MW) plants have an average heat rate of approximately 7,000 Btu/kWh and a capacity factor exceeding 80%. The 480 MW Darby plant operates as a peaking unit. Talen believes that incorporating these facilities into its portfolio will enhance its ability to provide low-carbon electricity to hyperscale data centers and large commercial offtakers.

Talen received approval from the Federal Energy Regulatory Commission (FERC) this week and from the Indiana Utility Regulatory Commission on May 27. The waiting period under the Hart-Scott-Rodino Act of 1976 expired in March 2026.

"I am pleased to announce that we have obtained the key regulatory approvals needed to complete this highly accretive transaction for Talen's acquisition of the Lawrenceburg, Waterford, and Darby plants," said Terry Nutt, President of Talen Energy. "We look forward to closing this transaction and integrating these assets into our portfolio."

The acquisition remains subject to customary closing conditions, which Talen expects will be "satisfied shortly," and anticipates closing within the coming weeks.

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