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bankruptcy on May 17, 2023. Upon its emergence, ownership of Talen Energy was transferred to a majority of its unsecured creditors consisting of a number of large financial institutions. Mark "Mac" McFarland also assumed the role of
President, CEO and member of the Board, and a new independent board of directors was seated. In June 2023, Talen Announced Senior Leadership Changes, including the appointment of Terry Nutt to the role of Chief Financial Officer and John Wander as General Counsel and Corporate Secretary. On June 23, 2023, Talen Energy Corporation stock began to trade on the OTC Market under the ticker TLNE.
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mining operations. Targeted tenants for the data center facilities are organizations including Google, Amazon and Apple, to help facilitate data storage, cloud computing and processing. As the demand for technology increases, so does the requirement for energy to power these applications. Susquehanna's carbon-free power can offer a clean, reliable source of energy for clients and their applications. The campus' first facility hosts a 48-megawatt data center, with additional facilities to be constructed in the future. It also includes one 200-megawatt bitcoin mining facility as part of Talen's joint venture with
249:. Talen subsidiary Cumulus Coin serves as 75% owner and operator of the Nautilus Cryptomine facility which is directly powered by Susquehanna. Talen subsidiary Cumulus Data announced in January 2022 that the data center facility shell was complete and ready for its first tenant. The Nautilus Cryptomine facility began operations in early 2023.
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it operates, by converting, rather than retiring its fossil generation facilities and creating new opportunities for these stakeholders through its transformation. This announcement made Talen one of the first in the competitive power industry to commit to an accelerated transformation away from coal. The Sierra Club expressed its
220:
Talen noted that it will 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
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to pursue the development, financing, construction and operation of approximately 1.4 Gigawatts of utility scale renewable energy projects over the next five years. Then, in May 2021, Talen unveiled its 1 Gigawatt of battery storage project pipeline. Both the renewable energy and battery storage
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During its May 2021 ESG Equity
Investor Day, Talen outlined plans to construct a digital infrastructure campus on owned land adjacent to its Susquehanna nuclear generation facility outside Berwick, Pennsylvania. The campus would include facilities that would house data center and cryptocurrency
184:
On
February 2, 2015, PPL and Riverstone accepted the FERC's mitigation option in order to receive approval from FERC. The Pennsylvania PUC approval followed on March 11, 2015, when the PUC approved the transfer of PPL Electric Utilities' ownership in PPL Interstate Energy Company to Talen. The
165:
According to the
Director of Corporate Communications the name "Talen Energy" symbolizes talent of the people who work for the company and energy in terms of the product it produces and what employees bring to their jobs. Talen "represents the idea of talented people energized to succeed." The
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On May 9, 2022, Talen filed for bankruptcy under
Chapter 11 in an attempt to reduce its $ 4.5 billion debt. Its plan of reorganization was approved by the US Bankruptcy Court for the Southern District of Texas on December 15, 2022. The company completed its restructuring and emerged from
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Talen is one of the largest competitive power generation and infrastructure companies in North
America. The Company owns and/or controls approximately 10.7 gigawatts of generating capacity in wholesale U.S. power markets, principally in the Mid-Atlantic, and Montana.
256:
In March 2024, the company announced the sale of its
Cumulus data center campus to a major cloud service provider. It also announced the sale of its ERCOT generation portfolio to CPS Energy in March 2024, with the transaction closing on May 1, 2024.
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NRC's approval for the transfer of the
Susquehanna Nuclear Plant licenses came on April 10, 2015, and on April 23, 2015, PPL received the final regulatory approval from the U.S. Department of Justice.
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On June 10, 2014, PPL announced that it would spin off its competitive energy business which would merge with
Riverstone Holdings' operations to create Talen. The transaction needed approval from the
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Region to mitigate FERC's competitiveness concerns. On
December 6, 2016, Riverstone Holdings completed the purchase of the remaining 65% of Talen's common stock, making it a privately owned company.
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Talen Energy launched on June 1, 2015. PPL shareholders initially owned 65 percent and Riverstone owned 35% of the shares of the new company, whose shares trade on the
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company's colors of green and yellow were chosen based on then-CEO Paul Farr's love of the Green Bay Packers. Today, the company's logo is simply black and white.
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On June 2, 2015, Paul Farr, President and CEO of Talen, and other executives rang the opening bell on the NYSE in celebration of the Talen Energy launch.
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753:"Talen Energy Reports Second Quarter Results, Highlights Strong First Half 2023 Financial and Operational Performance, and Establishes 2023 Guidance"
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On December 6, 2016, Riverstone Holdings completed the purchase of the remaining 65% of Talen's common stock, making it a privately owned company.
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149:. Following these transactions, PPL shareholders owned 65% of Talen's common stock and affiliates of Riverstone owned 35%. As a condition for
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projects will largely be constructed on land within Talen's footprint, creating new opportunities for its communities.
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Talen's generation facilities include nuclear, coal fired and natural gas power plants. The largest plant is the
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528:"PUC Approves Transaction as part of Large Spinoff of PPL's Electric Generation Service to Form Talen Energy"
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On November 10, 2020, Talen announced its commitment to transform for a clean energy future. As part of its
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550:"PPL Request for Transfer of Susquehanna Nuclear Plan Licenses Approved by Nuclear Regulatory Commission"
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707:"Talen Energy Corporation Announces Successful Completion of Strategic Restructuring Transactions"
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The following is a list of Talen's current generation facilities owned by subsidiaries of Talen:
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approval Talen agreed to divest approximately 1,300 megawatts of generating assets in the
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Talen later reported further tangible steps made toward its goal of leading the clean
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was spun off and immediately combined with competitive generation businesses owned by
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731:"Talen Energy unit files for bankruptcy, looks to slash $ 4.5 bln debt - Reuters"
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founded in 2015. It was formed when the competitive power generation business of
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On October 8, 2015, Talen announced the sale of Ironwood Natural Gas plant to a
618:"Talen Energy Debuts as One of the Largest Independent Power Producers in U.S."
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subsidiary for US$ 654 million, and Holtwood and Wallenpaupack Hydro plants to
363:
104:
573:"PPL Corp. electricity spinoff, Talen Energy Corp., nets final approval"
658:"Talen Energy unit files for bankruptcy, looks to slash $ 4.5 bln debt"
683:"Court Approves Confirmation of Talen Energy's Plan of Reorganization"
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431:"CEO Paul Farr out as Riverstone completes Talen Energy takeover"
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506:"PPL, Riverstone Accept FERC Mitigation Plan on Talen Spinoff"
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481:"PPL Corp. to Spin off Units, Form New Co. with Riverstone"
643:"Talen Energy to sell 3 power plants for $ 1.5 billion"
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Companies that filed for Chapter 11 bankruptcy in 2022
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Non-renewable resource companies established in 2015
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John Wander, General Counsel and Corporate Secretary
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530:(Press release). Pennsylvania PUC. March 11, 2015
467:"Talen CEO says he prefers to stay in Allentown"
232:and being a Force for Good. In April 2021, It
236:that it had entered into a joint venture with
800:Electric power companies of the United States
552:(Press release). Talen Energy. April 10, 2015
380:Martins Creek Power Plant - Martins Creek, PA
8:
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805:Companies based in Allentown, Pennsylvania
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594:The Morning Call Staff (April 29, 2015).
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830:American companies established in 2015
483:. Zacks Equity Research. June 10, 2014
281:seven miles (11 km) northeast of
171:Pennsylvania Public Utility Commission
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323:Brunner Island Steam Electric Station
7:
810:Energy companies established in 2015
453:"PPL merger to keep Lake operations"
344:Herbert A. Wagner Generating Station
204:Brookfield Renewable Energy Partners
87:Terry Nutt, Chief Financial Officer
820:2015 establishments in Pennsylvania
571:Bresswein, Kurt (April 23, 2015).
298:Susquehanna Steam Electric Station
271:Susquehanna Steam Electric Station
14:
429:Kraus, Scott (December 7, 2016).
374:Lower Mount Bethel Power Plant -
314:Brandon Shores Generating Station
656:Chutchian, Maria (10 May 2022).
596:"Talen Energy to launch June 1"
508:. RTO Insider. February 2, 2015
1:
825:2016 mergers and acquisitions
346:(gas co-fired) - Pasadena, MD
261:Facilities and infrastructure
179:Nuclear Regulatory Commission
455:. neagle.com. June 12, 2014.
338:Conemaugh Generating Station
469:. mccall.com. June 1, 2015.
410:. PR Newswire. June 1, 2015
350:Keystone Generating Station
218:transformation announcement
851:
325:(also burns natural gas)-
175:U.S. Department of Justice
136:independent power producer
84:(Chief Executive Officer)
368:Dartmouth Power Plant -
17:Talen Energy Corporation
331:Colstrip Power Plant -
181:before its completion.
757:Talen Energy Investors
711:Talen Energy Investors
687:Talen Energy Investors
383:Montour Power Plant -
192:under the symbol TLN.
408:"Talen Energy Debuts"
362:Camden Power Plant -
283:Berwick, Pennsylvania
210:for US$ 860 million.
49:; 9 years ago
225:of Talen's actions.
177:, the FERC, and the
81:Mark "Mac" McFarland
575:. The Express-Times
385:Washingtonville, PA
275:nuclear power plant
155:PJM Interconnection
147:Riverstone Holdings
144:private equity firm
95:Number of employees
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598:. The Morning Call
433:. The Morning Call
340:- New Florence, PA
376:Martins Creek, PA
279:Susquehanna River
277:, located on the
230:energy transition
208:Hamilton, Bermuda
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318:Pasadena, MD
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121:.talenenergy
105:Subsidiaries
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62:Headquarters
762:12 December
302:Berwick, PA
200:TransCanada
29:OTCQX: TLNE
794:Categories
716:2023-05-25
692:2023-05-25
621:PRNewswire
437:January 3,
391:References
364:Camden, NJ
76:Key people
54:2015-06-01
733:. Reuters
579:April 24,
234:announced
24:Traded as
737:June 14,
667:June 14,
34:Industry
662:Reuters
627:June 1,
292:Nuclear
223:support
161:History
114:Website
52: (
44:Founded
602:May 4,
173:, the
134:is an
69:, U.S.
38:Energy
764:2023
739:2022
669:2022
629:2015
604:2015
581:2015
558:2015
536:2015
514:2015
489:2015
439:2017
416:2015
308:Coal
190:NYSE
151:FERC
123:.com
99:2200
357:Gas
206:of
119:www
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