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.The acquisition adds 1,710-megawatt generation portfolio, located in the south zone of the Electric Reliability Council of Texas , to CPS’s 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.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.
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