CPS Energy Buys Four Gas Plants From Proenergy For Nearly 1 4 Billion

CPS Energy has agreed to buy four gas power plants from PROENERGY for nearly $1.4 billion.

The combined capacity of the plants equals 1,632 MW, which are spread across Harris, Brazoria, and Galveston counties in Texas’ ERCOT market.

The facilities also have dual-fuel capacity, allowing for potential future hydrogen use.

CPS Energy and PROENERGY have also negotiated both Operations and Maintenance (O&M) and Total Care Services Agreements (TCSA), meaning that PROENERGY will continue to operate and maintain the plants.

Acquisitions of existing plants, as well as construction of new generation, is rapidly ramping up in the ERCOT market. This region is seeing intense growth in power demand, largely thanks to data centers and manufacturing.