Talen Signs 750 MW Long-Term Capacity Agreement
Key Highlights
- ➤750 MW seven-year PJM capacity agreement expected to generate approximately $100 million annually
- ➤Agreement covers PJM Delivery Years 2029/2030 through 2035/2036
- ➤Talen now has ten years and approximately $1 billion of cumulative capacity revenue visibility
- ➤Contracted gross margin rises to 40% through 2036 with this agreement and AWS contract
- ➤Additional agreements contract 588 MW at Guernsey and 702 MW from Waterford Energy Center
Expert Statements
Mac McFarland, Chief Executive Officer of Talen
“We are continuing to convert the value of our advantaged assets in advantaged locations into durable, long-term cash flows supported by strong creditworthy customers.”
Mac McFarland, Chief Executive Officer of Talen
“This agreement locks in capacity economics while preserving our energy market upside and advancing the Talen flywheel.”
Terry Nutt, President and incoming Chief Executive Officer of Talen
“Our focus remains on operating our assets well, maintaining a strong balance sheet, and deploying capital where we believe it will create the greatest value for our shareholders.”
Terry Nutt, President and incoming Chief Executive Officer of Talen
“We continue to have multiple paths to improve the contracted nature of our cash flows, and this transaction is another example.”
HOUSTON, Nov. 11, 2026 (GLOBE NEWSWIRE) -- Talen Energy Corporation (“Talen,” the “Company,” “we” or “our”) (NASDAQ: TLN), a leading independent power producer, today announced a long-term capacity sale of 750 megawatts (“MW”) to an investment grade counterparty in PJM. The seven-year agreement covers PJM Delivery Years 2029/2030 through 2035/2036 and is expected to generate approximately $100 million per year in revenue.
Key Strategic Highlights: * Ten years of capacity visibility: The Guernsey Power Station (“Guernsey”) will contribute 750 MW of accredited capacity under the agreement, covering the 2029/2030 through 2035/2036 PJM Delivery Years. In combination with the cleared capacity auctions, we now have ten years and approximately $1 billion of cumulative capacity revenue visibility from these megawatts. * Locks in long-term contracted capacity payments: The transaction highlights the long-term value of Talen’s operating assets in PJM as demand for power grows. * Increases contracted gross margin: Together with the AWS long-term contract, this agreement increases the contracted share of Talen’s gross margin to 40% through 2036. This improves the cash flow visibility and reduces the overall risk profile associated with the Company’s earnings. “We are continuing to convert the value of our advantaged assets in advantaged locations into durable, long-term cash flows supported by strong creditworthy customers,” said Mac McFarland, Talen Chief Executive Officer. “This agreement locks in capacity economics while preserving our energy market upside and advancing the Talen flywheel.”
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