TotalEnergies to Buy Texas Gas Power Plants for $635 Million
- Transaction will increase Total’s presence in US power market
- Assets will complement the energy firm’s renewable portfolio
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TotalEnergies SE agreed to buy three natural gas-fired power plants in Texas from TexGen Power LLC for $635 million as it looks to expand in the US market.
The three plants will serve the “fast-growing energy demand” of Dallas and Houston, offsetting the intermittency of renewable power production, the French energy giant said in a statement Monday, confirming an earlier Bloomberg News report. They have a joint capacity of 1.5 gigawatts.