TotalEnergies Acquires 1.5 GW Power Generation Portfolio In Texas

November 13, 2023

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Copyright 2010-23 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

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TotalEnergies has signed an agreement with TexGen to acquire for $635 million three gas-fired power plants with a total capacity of 1.5 GW in Texas.

The three plants, which are connected to ERCOT, consist of the following:

• The Wolf Hollow I plant with a 745 MW combined-cycle gas turbine (CCGT) plant on the outskirts of Dallas.

• The Colorado Bend I plant with a 530 MW CCGT and a 74 MW open-cycle gas turbine (OCGT), south of Houston,

• The La Porte site with a 150 MW OCGT, southeast of Houston.

"The 1.5 GW additional flexible production capacity acquired by TotalEnergies will complement its renewable capacity in Texas -- currently 2 GW gross installed, 2 GW under construction and more than 3 GW under development -- and will strengthen its trading capabilities in the gas and power markets," TotalEnergies said

"We are delighted with the agreement signed with TexGen to acquire 1.5 GW of CCGT in ERCOT. After the signing of several corporate PPA over the last couple of years and the recent start-up of the utility-scale Myrtle solar plant, this deal is a major milestone for our Integrated Power strategy in the ERCOT market. These plants will enable us to complement our renewable assets, intermittent by nature, provide our customers with firm power, and take advantage of the volatility of electricity prices," said Stephane Michel, President Gas Renewables & Power at TotalEnergies.

This transaction remains subject to approval by the relevant authorities, TotalEnergies said

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