CPS Energy and PROENERGY have signed a definitive agreement under which CPS Energy will acquire four gas-fired power generation facilities with a combined electric capacity of 1.6 GW in Texas (United States), for approximately US$1.4bn, subject to customary net working capital adjustments. The transaction is expected to close in the third quarter of 2025.
The assets, located within the Electric Reliability Council of Texas (ERCOT) market, include recently constructed peaking gas-fired power plants situated in Harris, Brazoria, and Galveston Counties. The acquired assets are capable of operating on dual fuels, allowing for a potential future transition to a hydrogen blend, which could lead to lower CO2 emissions.
In addition to the acquisition, CPS Energy and PROENERGY have entered into Operations and Maintenance (O&M) and Total Care Services Agreements (TCSA). Under these agreements, PROENERGY will continue to staff, operate, and maintain the facilities, ensuring their safe, efficient, and reliable operation.
Interested in Power Plants?
Enerdata has developed a market research service to screen, monitor and analyse the development of power generation assets.
Power Plant Tracker offers an interactive database and a powerful search engine covering power plants worldwide – including both installed and planned capacities for renewables and fossil fuels.