Energy
TotalEnergies Nears Deal to Buy Texas Gas Power Plants
- France’s TotalEnergies is looking to expand in the US
- Gas plants have become more valuable in Texas market
The 2.3-gigawatt portfolio provides capacity equivalent to more than two nuclear reactors.
Photographer: Dwayne Senior/BloombergThis article is for subscribers only.
TotalEnergies SE is nearing a deal to buy a fleet of natural gas-fired power plants in Texas as it looks to expand in the US market, according to people familiar with the matter.
The 2.3-gigawatt portfolio is owned by independent power producer TexGen Power LLC and provides capacity equivalent to more than two nuclear reactors. That’s enough to serve nearly half a million homes on the hottest days in the US state, based on figures from the Texas grid operator.