City Public Service of San Antonio entered into an agreement to acquire 897 MW Barney Davis and 635 MW Nueces Bay natural gas facilities of Talen Energy Corporation for approximately $790 million.

City Public Service of San Antonio entered into an agreement to acquire 897 MW Barney Davis and 635 MW Nueces Bay natural gas facilities of Talen Energy Corporation for approximately $790 million on March 27, 2024. The consideration of $785 million subject to customary net working capital adjustments at closing. Under the terms of the agreement, which is subject to customary closing conditions, CPS Energy will acquire all assets associated with Talen's 897 MW Barney Davis and 635 MW Nueces Bay natural gas-fired generation facilities, both located in Corpus Christi, Tex., as well as its 178 MW natural gas-fired generation facility in Laredo, Tex.

There are a combined total of approximately 65 operations employees at these sites. The transaction is expected to close in April 2024. J.P. Morgan acted as financial advisor and Dykema Gossett PLLC acted as legal advisor to CPS Energy with respect to the Transaction.

RBC Capital Markets, LLC acted as financial advisor and Kirkland & Ellis LLP acted as legal advisor for Talen.