Talen Energy

Talen Energy Corporation is an independent power producer and energy infrastructure company.

History

Talen Energy was founded in 2015. The company was formed when the competitive power generation business of PPL Corporation was spun off and immediately combined with competitive generation businesses owned by private equity firm Riverstone Holdings. Following these transactions, PPL shareholders owned 65% of Talen's common stock and affiliates of Riverstone owned 35%, with shares trading on the NYSE under the symbol "TLN".[1]

On December 6, 2016, Riverstone Holdings completed the purchase of the remaining 65% of Talen's common stock, making it a privately owned company.

On November 10, 2020, Talen announced its commitment to transform for a clean energy future. As part of its transformation announcement Talen noted that it would decarbonize its fleet and invest in developing renewable energy, battery storage and digital infrastructure primarily on owned land within its footprint. It also introduced its "Force for Good" philosophy, which includes maintaining its commitment to the communities in which it operates by converting, rather than retiring, its fossil generation facilities and creating new opportunities for these stakeholders through its transformation.

On May 9, 2022, Talen filed for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code as part of a strategic restructuring transaction aimed at reducing $4.5 billion of debt.

Facilities and infrastructure

Talen's generation facilities include nuclear, coal, natural gas, and oil-fired power plants.

The largest plant is the Susquehanna Steam Electric Station, a 2.5 gigawatt nuclear power plant, located on the Susquehanna River seven miles (11 km) northeast of Berwick, Pennsylvania. Talen operates and owns a 90% interest in the Susquehanna facility, the sixth largest nuclear-powered generation facility in the U.S. Susquehanna's generation typically accounts for approximately half of Talen's total annual megawatts generated.

Talen's 6.3 GW natural gas and oil fleet (of which 3.2 gigawatts is from Brunner Island, Montour, and H.A Wagner Unit 3 after conversion, as discussed below) includes seven technologically diverse natural gas and oil generation facilities across the generation stack (including intermediate and peaking dispatch). Certain units are capable of using multiple fuel sources, providing meaningful operational flexibility. These strategically located assets include significant generation in attractive wholesale markets (primarily PJM), allowing them to generate predictable revenues on cleared capacity while also benefiting from varying market dynamics.

Talen's coal-fired generation assets continue to be impacted by changing environmental regulations and power market economics. The company has already completed the conversion of approximately 3.2 gigawatts of its legacy coal fleet to lower-carbon fuels, including the Brunner Island (dual fuel) and Montour facilities, which together represent over 25% of its total generation capacity, and Unit 3 of the H.A. Wagner facility which was converted from coal, and aligns with all other units at the facility.

The following is a list of Talen's current generation facilities owned by subsidiaries of Talen:

Nuclear

Susquehanna Steam Electric Station – Salem Township, PA

Coal

Brandon Shores Generating Station – Pasadena, MD
Brunner Island Steam Electric Station (also burns natural gas)- York Haven, PA
Colstrip Power Plant – Colstrip, MT
Conemaugh Generating Station – New Florence, PA
Herbert A. Wagner Generating Station (gas co-fired) – Pasadena, MD
Keystone Generating Station – Schelocta, PA

Natural Gas

Camden Power Plant – Camden, NJ
Dartmouth Power Plant – Dartmouth, MA
Lower Mount Bethel Power Plant -Bangor, PA
Martins Creek Power Plant – Bangor, PA
Montour Power Plant – Washingtonville, PA[6]

type	Public
traded as	nasdaq: TLN S&P 400 component
founded	June 1, 2015
hq location	Houston, Texas, U.S.
key people	Mark "Mac" McFarland (chief executive officer) Terry Nutt, chief financial officer John Wander, General Counsel and Corporate Secretary
num employees	1,900
industry	Energy
subsid	Cumulus Growth
website	talenenergy.com