Talen Energy Expands and Enhances Portfolio with Best-in-Class CCGT Acquisitions in PJM
PENNSYLVANIA, UNITED STATES, JUL 17 – The acquisition adds two efficient combined-cycle gas turbine plants, increasing annual generation by 50% and boosting free cash flow per share by over 40% in 2026, Talen said.
- On July 17, 2025, Talen Energy announced plans to purchase two combined-cycle gas-fired facilities located in the PJM power market, one in Pennsylvania and the other in Ohio.
- Talen planned the acquisitions following its June 2025 partnership with Amazon and aimed to expand capacity amid rising demand for reliable, sustainable power.
- The acquisitions, valued at a $3.8 billion gross price and $3.5 billion net, include Moxie near Susquehanna and Guernsey near Columbus.
- CEO Mac McFarland stated that the acquisition strengthens Talen’s portfolio by incorporating advanced, efficient H-class combined-cycle gas turbines in strategic markets, resulting in a 50% increase in annual production from 40 to approximately 60 terawatt-hours.
- Talen expects over 40% free cash flow per share growth in 2026 and targets completing the deals by Q4 2025 pending regulatory approval, maintaining balance sheet discipline.
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