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Talen Energy Expands Its Portfolio in PJM by Acquiring 2,904-MW of Combined-Cycle Facilities

LCG, July 18, 2025--Talen Energy Corporation yesterday announced it has signed agreements to acquire Caithness Energy’s Moxie Freedom Energy Center (Moxie) in Pennsylvania and Caithness Energy and BlackRock’s Guernsey Power Station (Guernsey) in Ohio. Talen expects the transaction to be immediately accretive to free cash flow per share by over 40 percent in 2026, and over 50 percent through 2029. The net acquisition price is $3.5 billion after adjusting for estimated tax benefits, or approximately $3.8 billion gross.

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Brookfield and Google Sign Nationwide Hydro Framework Agreement to Deliver up to 3,000 MW of Carbon-Free Hydro Power

LCG, July 16, 2025--Brookfield Asset Management (BAM), together with Brookfield Renewable (Brookfield) and Google yesterday announced a first-of-its-kind Hydro Framework Agreement (HFA) to deliver up to 3,000 MW of carbon-free hydroelectric capacity across the nation

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Industry News

California's Treasurer Wants to Buy Transmission Grid

LCG, Feb. 9, 2001Phil Angelides, state treasurer of California, proposed yesterday that the state acquire the electric power transmission lines belonging to the state's cash-strapped utilities as a way of helping the companies avoid bankruptcy.

"Everybody," as Jimmy Durante was fond of reminding us, "wants ta get inta da act."

"I believe the only appropriate role for the state at this point is, after the utilities decide what theyare going to do to reorganize, is for us to be willing to buy the transmission assets," Angelides toldreporters yesterday.

The treasurer's proposal came as the state legislature was considering a similar plan as one way to get money to the utilities without allowing a significant rate increase or being accused of allowing a taxpayer-funded "bailout" of the companies.

Angelides said his plan would require the state's two largest utilities, Pacific Gas & Electric Co. and Southern California Edison Co., to drop lawsuits against the state seeking to recover money they have spent buying power on the volatile wholesale market that they were forced to sell at much lower rates to retail customers.

He said one benefit of the state owning the transmission grid is it could issue tax exempt bonds for necessary improvements which could cost around $1 billion.

It would be just like the state owning the highway system, which is more congested than the transmission system even though CalTrans, the state highway department has been in charge of it for decades. Commuters locked in traffic jams will not be reassured.

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