Talen Energy Corporation (TLN) has signed definitive agreements to acquire Caithness Energy’s Moxie Freedom Energy Center in Pennsylvania and Caithness Energy and BlackRock’s Guernsey Power Station in Ohio, both combined-cycle gas-fired plants within the PJM power market.
The net acquisition price is $3.5 billion by Talen Energy Corporation (TLN). This deal is set to boost free cash flow per share by more than 40% in 2026 and over 50% through 2029.
Both transactions are expected to close in Q4 2025. To fund the acquisitions and refinance target debt, Talen Energy Corporation plans to issue approximately $3.8 billion in new secured and unsecured debt instruments.
“This acquisition enhances Talen Energy’s fleet by adding modern, highly efficient baseload H-class CCGTs in key markets, where we lead in data center contracting,” said Mac McFarland, President and CEO.
