Talen Energy Corp. (NYSE: TLN) signed an agreement to acquire Mach Gen LLC. for $1.175 billion.
Mach Gen owns more than 2,500-MW of combined-cycle, natural gas-fired generating capacity in New York, Massachusetts and Arizona. When the transaction closes, Talen Energy’s total generating capacity will increase to 17,600 MW, before the required sale of about 1,300 MW to meet a mitigation order from the Federal Energy Regulatory Commission (FERC) pertaining to the deal that created Talen Energy.
The deal is scheduled to close by the end of 2015, pending regulatory approvals.
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