Talen Energy Announces Sale of Zero-Carbon Data Center Campus

Rhea-AI Summary

Talen Energy Corporation (TLNE) announced the sale of its 960-megawatt Cumulus data center campus in Pennsylvania to a major cloud service provider, unlocking significant value and providing an attractive return on investment. The sale also leverages clean power from its Susquehanna nuclear plant, creating additional value. Talen will host an investor call on March 4, 2024, to discuss the transaction.

HOUSTON, March 4, 2024 /PRNewswire/ -- Talen Energy Corporation ("Talen") (OTCQX: TLNE) today issued the following statement regarding the sale of its 960-megawatt Cumulus data center campus in northeast Pennsylvania to a major cloud service provider.

"We are pleased today to have sold our Cumulus data center campus, unlocking significant value for Talen," said Talen President and Chief Executive Officer Mac McFarland. "This transaction provides an attractive return on Talen's investment and vision in building Cumulus, and creates value through the sale of clean carbon-free power from our top-decile Susquehanna nuclear plant."  

Details regarding the transaction can be found on the Financials and Presentations page of Talen's Investor Relations website, linked here.

Talen will host an investor call at 9:00 a.m. EST today, Monday, March 4, 2024. To participate in the call, please register for the webcast via the page linked here. Participants can also join by phone through registering on the form linked here prior to the start time of the call to receive a conference call dial-in number. For those unable to participate in the live event, a digital replay will be archived for approximately one year and available on the Financials and Presentations page of Talen's Investor Relations website linked here.

About Talen
Talen owns and operates approximately 12.4 gigawatts of power infrastructure in the United States. We produce and sell electricity, capacity, and ancillary services into wholesale U.S. power markets, including PJM, ERCOT and WECC, with our generation fleet principally located in the Mid-Atlantic, Texas and Montana. While the majority of our power is already generated at our zero-carbon, low-cost Susquehanna nuclear facility and other lower-carbon gas-fired facilities, we are reducing the carbon profile of our fleet through conversions and retirements of our wholly owned coal facilities. Talen is headquartered in Houston, Texas. For more information visit www.talenenergy.com.

Talen trades on the OTCQX^® Best Market under the ticker "TLNE." OTCQX companies meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, and have a professional third-party sponsor introduction. Investors can find current financial disclosures and Real-Time Level 2 quotes for the Company on www.otcmarkets.com/stock/TLNE/overview.

Forward Looking Statements
This communication contains forward-looking statements within the meaning of the federal securities laws, which statements are subject to substantial risks and uncertainties. These forward-looking statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this communication, or incorporated by reference into this communication, are forward-looking statements. Throughout this communication, we have attempted to identify forward-looking statements by using words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecasts," "goal," "intend," "may," "plan," "potential," "predict," "project," "seek," "should," "will," or other forms of these words or similar words or expressions or the negative thereof, although not all forward-looking statements contain these terms. Forward-looking statements address future events and conditions concerning, among other things capital expenditures, earnings, litigation, regulatory matters, hedging, liquidity and capital resources and accounting matters. Forward-looking statements are subject to substantial risks and uncertainties that could cause our future business, financial condition, results of operations or performance to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this communication. All of our forward-looking statements include assumptions underlying or relating to such statements that may cause actual results to differ materially from those that we are currently expecting, and are subject to numerous factors that present considerable risks and uncertainties.

Additional Information
For additional information and updates about Talen, please visit our Investor Relations webpage at https://talenenergy.investorroom.com, or contact:

Investor Relations:
Ellen Liu
Senior Director, Investor Relations
InvestorRelations@talenenergy.com
281-203-5435

Media:
Taryne Williams
Director, Corporate Communications
Taryne.Williams@talenenergy.com
610-601-0327

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SOURCE Talen Energy Corporation

FAQ

What did Talen Energy Corporation announce?

Talen Energy Corporation announced the sale of its 960-megawatt Cumulus data center campus in northeast Pennsylvania to a major cloud service provider.

What is the ticker symbol for Talen Energy Corporation?

The ticker symbol for Talen Energy Corporation is TLNE.

When will Talen Energy Corporation host an investor call?

Talen Energy Corporation will host an investor call on March 4, 2024, at 9:00 a.m. EST.

Where can details about the transaction be found?

Details about the transaction can be found on the Financials and Presentations page of Talen's Investor Relations website.

What type of power does Talen Energy Corporation leverage from its Susquehanna nuclear plant?

Talen Energy Corporation leverages clean carbon-free power from its top-decile Susquehanna nuclear plant.