By Editors of Power Engineering
Power generation company Talen Energy announced it has completed its merger with an affiliate of Riverstone Holdings LLC.
The move immediately privatizes the company, and Talen’s stock has ceased trading on the New York Stock Exchange. Stockholders will receive $14 per share.
Ralph Alexander has been named president and CEO of Talen Energy, effective immediately.
Riverstone Holdings is an energy and power-focused private investment firm founded in 2000 by David M. Leuschen and Pierre F. Lapeyre, Jr. focused on conducting buyouts and growth capital investments in the exploration and production, midstream, oilfield services, power and renewable sectors of the energy industry.
Talen Energy owns or controls 16,000 MW of generating capacity, mostly in the northeast, mid-Atlantic and southwest regions of the United States.