Kirkland Advises Talen Energy on Acquisitions of the Moxie Freedom and Guernsey Power Plants

Kirkland & Ellis advised Talen Energy Corporation (NASDAQ: TLN), a leading independent power producer, on definitive agreements to acquire Caithness Energy's Moxie Freedom Energy Center in Pennsylvania and Caithness Energy and BlackRock's Guernsey Power Station in Ohio, both combined-cycle gas-fired plants located within the PJM power market. The net acquisition price is $3.5 billion after adjusting for estimated tax benefits, or approximately $3.8 billion gross. The addition of the facilities to Talen's portfolio enhances Talen's ability to offer reliable, scalable, grid-supported and regionally diverse low-carbon capacity to hyperscale data centers and large commercial off-takers. Both transactions are expected to close in Q4 2025.

Read Talen's press release

The Kirkland team included corporate lawyers Bill Benitez, Josh Teahen and Jacob Volz; energy regulatory lawyers John Decker and Andrew DeVore; tax lawyers Mark Dundon and Rachel Malhiet; and antitrust & competition lawyers Ian John and Chuck Boyars.