TotalEnergies Acquires Three Gas-fired Power Plants For $635 Mln

(RTTNews) - TotalEnergies SE (TTE) Monday announced its decision to acquire three gas-fired power plants with a total capacity of 1.5 GW in Texas from TexGen for $635 million.

The company believes that the acquisition will complement its renewable capacity in Texas including 2 GW installed, 2GW under construction, and another 3 GW under development.

The plants on acquisition, connected to ERCOT (Electric Reliability Council of Texas), consists of The Wolf Hollow I plant with a 745 MW combined-cycle gas turbine (CCGT) plant in Dallas, The Colorado Bend I plant with a 530 MW CCGT and a 74 MW open-cycle gas turbine (OCGT), and The La Porte site with a 150 MW OCGT, both in Houston.

"This acquisition will contribute positively to our profitability target of 12% ROACE by 2028 for our Integrated Power business segment", said Stephane Michel, President Gas Renewables & Power at TotalEnergies.