US-based utility CPS Energy has completed the acquisition of three natural gas plants in Texas from Talen Energy for $785m. The move was first announced at the end of March 2024 and enhances the company’s generation portfolio in the south zone of the Electric Reliability Council of Texas (ERCOT).
The acquisition totals 1.7GW and comprises the 897MW Barney Davis and the 635MW Nueces Bay natural gas-fired generation facilities in Corpus Christi, and a 178MW facility in Laredo. These plants will remain operational until 2048, with the 66 employees at these sites continuing their jobs with CPS Energy.
CPS Energy president and CEO Rudy Garza stated, “This step marks CPS Energy’s growing role as a regional energy utility, providing additional resiliency and reliability for our customers. This acquisition adds critical capacity to our generation portfolio to continue to reliably serve one of the fastest-growing regions in the nation. Our customers will benefit from these investments for decades to come.”
The deal aligns with the company’s commitment to powering the greater San Antonio area. Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research and gain a competitive edge. The Benefits of Outdoor Exercise
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