M&A - Talen Energy Corp

Form Type: 8-K

Filing Date: 2025-07-17

Corporate Action: Acquisition

Type: New

Accession Number: 000162828025035201

Filing Summary: On July 17, 2025, Talen Generation, LLC, a wholly-owned subsidiary of Talen Energy Corporation, entered into two significant purchase agreements aimed at acquiring the Luzerne Project and the Guernsey Project. The Moxie Purchase Agreement involves Talen Generation purchasing Moxie Freedom LLC, which holds ownership in the 1,105 MW natural gas-fired combined cycle Luzerne Project, for a purchase price of $1.46 billion in cash. Additionally, the Guernsey Purchase Agreement covers the acquisition of Guernsey Power Holdings, LLC, controlling a 1,875 MW natural gas-fired combined cycle generation project for $2.33 billion in cash. Both acquisitions are subject to customary closing conditions and will involve Talen Energy securing $3.77 billion in debt financing from Citigroup Global Markets Inc. and RBC Capital Markets. A press release detailing the acquisitions was issued and an investor call was scheduled for later that day.