PROENERGY, a portfolio company of Energy Capital Partners, has agreed to divest four fast-start power-generation facilities to CPS Energy in a deal valued at $1.387 billion.
The transaction will involve the divestment of the HO Clarke, Topaz, Mark One and Remy Jade Generating Stations, which have an aggregate electric capacity of 1,632 megawatts. Located in the Electric Reliability Council of Texas (ERCOT) market, the acquired assets include state-of-the-art, recently constructed peaking natural gas plants in Harris, Brazoria and Galveston Counties.
The assets are dual-fuel capable, providing CPS Energy future optionality to transition to a hydrogen fuel blend that would enable reduced carbon emissions.
In addition to the purchase agreement, CPS Energy and PROENERGY have entered into operations and maintenance and total care services agreements. Under these agreements, PROENERGY will continue to staff, operate and maintain the acquired units, ensuring safe and r
