Talen Entering NYISO, Expanding in ISO-NE in $1.2B Deal
Talen Energy announced its first post-spinoff acquisition Monday, agreeing to spend $1.175 billion to purchase 2,500 MW of combined-cycle generation that expands the company’s presence in ISO-NE and marks its entry into NYISO.
he company, which completed its spinoff from PPL and Riverstone Holdings on June 1, announced it will acquire three generators from MACH Gen: the 1,080-MW New Athens plant in Athens, N.Y.; the 360-MW Millennium plant in Charlton, Mass.; and the 1,092-MW New Harquahala plant near Tonopah, Ariz.
The key to the deal for Talen is the two plants in NYISO and ISO-NE, regions in which the company had previously said it was setting its sights. The acquisition will increase its geographic diversity, reducing PJM’s share of its fleet from 83% to 71% while doubling ISO-NE’s share to 2%.