Energy

Talen Jumps to Record After Buying Prime Power Plants to Feed AI

The Guernsey Power Station.
Photographer: Jim West/UCG/Universal Images Group/Getty Images

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By Naureen S Malik

July 17, 2025 at 8:12 PM UTC

Updated on

July 18, 2025 at 2:04 PM UTC

Talen Energy Corp. shares surged the most ever in intraday trading after announcing a $3.8 billion deal to buy two of the most efficient power plants on the largest US grid, joining a wave of deals by independent generators snapping up gas units to feed AI’s surging demand.

Talen will buy Caithness Energy’s Moxie Freedom Energy Center in Pennsylvania and Caithness and BlackRock’s Guernsey Power Station in Ohio, it said Thursday. Both assets are combined-cycle gas-fired plants and their combined capacity is nearly 3 gigawatts — enough to power about 2.4 million homes.