CPS Closes $785MM Deal for Talen Energy’s 1,710-MW Generation Portfolio

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CPS Energy closed on its acquisition of Talen Energy Corp.’s approximately 1,710-megawatt (MW) generation portfolio for $785 million, CPS announced May 1.

CPS acquired all assets associated with the 897-MW Barney Davis and 635-MW Nueces Bay natural gas plants in Corpus Christi and the 178-MW natural gas plant in Laredo.

J.P. Morgan acted as financial adviser and Dykema Gossett PLLC acted as legal adviser to CPS. RBC Capital Markets served as financial adviser and Kirkland and Ellis served as legal adviser for Talen.