Talen sells PJM capacity from two Ohio gas plants in new deals
Talen (TLN) subsidiaries entered into capacity sales on Nov. 9 with an investment grade counterparty. The seven-year Guernsey sale is expected to generate about $100 million a year in revenue.
Key takeaways
- Talen (TLN) subsidiaries entered into capacity sale transactions on Nov. 9 with an investment grade counterparty in PJM. Guernsey Power Station's 750 megawatts of capacity is sold for delivery years 2029/2030 through 2035/2036, expected to generate about $100 million a year. Waterford Energy Center's full capacity is sold for 2029/2030 through 2031/2032.
Talen (TLN) agreed to sell capacity from two Ohio gas-fired power plants to an investment grade counterparty in PJM. The deals were made by indirect wholly owned subsidiaries and described as ordinary course capacity sales.
Shares were little changed at 9:38 a.m. ET, from a $378.71 close.
Guernsey Power Station LLC made two sales covering the Guernsey Power Station, an 1,836-megawatt summer-rated natural gas-fired combined cycle plant in Guernsey County, Ohio. The first covers 750 megawatts of unit-specific accredited unforced capacity (UCAP) for PJM delivery years 2029/2030 through 2035/2036, a seven-year term. The second covers the remaining 588 megawatts of UCAP from the plant for delivery year 2029/2030.
The seven-year sale is expected to generate about $100 million per year in revenue.
Waterford Power LLC made a separate sale of all UCAP from the Waterford Energy Center, an 869-megawatt combined cycle gas turbine facility in Waterford, Ohio, for delivery years 2029/2030 through 2031/2032.
The capacity sale transactions are not subject to any closing conditions.