Talen Energy Completes Acquisition of 3 Power Plants; Adds 15%+ to Cash Flow

Talen Energy Corporation announced the completion of its strategic acquisition of the Lawrenceburg Power Plant in Indiana and the Waterford Energy Center and Darby Generating Station in Ohio from Energy Capital Partners (ECP). This acquisition is expected to be immediately accretive, adding over 15% to Talen's cash flow per share and strengthening its path to delivering more than $40 per share of annual free cash flow by 2028. In connection with the closing, ECP received 2.4 million shares of Talen common stock and approximately $2.55 billion in cash. Concurrently, Talen's subsidiary completed financing transactions, increasing its Revolving Credit Facility to $1.35 billion and upsizing its Letter of Credit Facility to $1.5 billion, while also redeeming senior secured notes to reduce interest expense by over $40 million annually.