Talen Buys Gas Plants for $3.5 Billion in Ohio Data Center Push

Talen Energy Corp. agreed to buy three natural gas power plants from Energy Capital Partners for $3.5 billion as power producers race to snap up generators with the AI boom driving up electric demand.

The assets sit within the largest US power grid, the 13-state PJM Interconnection LLC, home to the country’s biggest concentration of data centers and other sites of fast development. Payment for the deal would consist of $2.6 billion in cash and $900 million in Talen stock.

Power producers and regulated utilities alike are rushing to build or buy new power plants so they can sell electricity ...