Talen Energy Corporation, a US independent power producer (IPP), has signed definitive agreements to acquire US-based Caithness Energy’s 1,050 MW Moxie Freedom Energy Center in Pennsylvania, as well as the 1,875 Guernsey Power Station in Ohio, jointly owned by Caithness Energy and BlackRock. Both facilities are CCGT power plants located within the PJM (Pennsylvania–New Jersey–Maryland) power market. The total acquisition value is approximately US$3.5bn.
Additionally, Talen will acquire equity interests in Guernsey from funds managed by Global Infrastructure Partners, a US infrastructure investment firm now operating under BlackRock. The transactions are expected to close by the fourth quarter of 2025, subject to regulatory approvals, including from the Federal Energy Regulatory Commission.
These acquisitions will expand Talen’s generation fleet and increase its annual output capacity from 40 TWh to 60 TWh.