Latest news with #MacMcFarland
Yahoo
8 hours ago
- Business
- Yahoo
Talen Energy Secures Nuclear Energy Deal with Amazon
Talen Energy Corporation (NASDAQ:TLN) is included among the Best Nuclear Energy Stocks to Buy Right Now. The company made headlines recently when it was announced that Amazon had signed a deal with the utility to secure 1.92 GW of carbon-free electricity for AWS data centers. An aerial view of a nuclear plant, its domes casting a unique shadow. The electricity will be sourced from Talen's Susquehanna nuclear plant and delivered under a long-term power purchase agreement through 2042, with potential for extension. The two companies will also explore constructing new small modular reactors within Talen's Pennsylvania footprint, with the partnership also pursuing uprates to expand the nuclear plant's energy output. Mac McFarland, President and CEO at Talen Energy Corporation (NASDAQ:TLN), stated: 'Our agreement with Amazon is designed to provide us with a long-term, steady source of revenue and greater balance sheet flexibility through contracted revenues. We remain a first mover in this space and intend to continue to execute on our data centre strategy.' It needs mentioning that Talen Energy Corporation (NASDAQ:TLN) already signed a deal with AWS last year to power a 960 MW data center for the cloud service provider. The first phase for up to 300 MW of power is in place, but the additional phases are under review by the Federal Energy Regulatory Commission. Talen Energy Corporation (NASDAQ:TLN) has surged by more than 30% since the beginning of the year. Talen Energy Corporation (NASDAQ:TLN) is a leading independent power producer and energy infrastructure company with 10.7 GW of generation assets, including 2.2 GW of nuclear power. While we acknowledge the potential of TLN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Cheap Energy Stocks to Buy Now and Disclosure: None.
Yahoo
2 days ago
- Business
- Yahoo
Talen Energy Secures Nuclear Energy Deal with Amazon
Talen Energy Corporation (NASDAQ:TLN) is included among the Best Nuclear Energy Stocks to Buy Right Now. The company made headlines recently when it was announced that Amazon had signed a deal with the utility to secure 1.92 GW of carbon-free electricity for AWS data centers. An aerial view of a nuclear plant, its domes casting a unique shadow. The electricity will be sourced from Talen's Susquehanna nuclear plant and delivered under a long-term power purchase agreement through 2042, with potential for extension. The two companies will also explore constructing new small modular reactors within Talen's Pennsylvania footprint, with the partnership also pursuing uprates to expand the nuclear plant's energy output. Mac McFarland, President and CEO at Talen Energy Corporation (NASDAQ:TLN), stated: 'Our agreement with Amazon is designed to provide us with a long-term, steady source of revenue and greater balance sheet flexibility through contracted revenues. We remain a first mover in this space and intend to continue to execute on our data centre strategy.' It needs mentioning that Talen Energy Corporation (NASDAQ:TLN) already signed a deal with AWS last year to power a 960 MW data center for the cloud service provider. The first phase for up to 300 MW of power is in place, but the additional phases are under review by the Federal Energy Regulatory Commission. Talen Energy Corporation (NASDAQ:TLN) has surged by more than 30% since the beginning of the year. Talen Energy Corporation (NASDAQ:TLN) is a leading independent power producer and energy infrastructure company with 10.7 GW of generation assets, including 2.2 GW of nuclear power. While we acknowledge the potential of TLN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Cheap Energy Stocks to Buy Now and Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Upturn
01-05-2025
- Business
- Business Upturn
FERC Approves Reliability Must Run Settlement Agreement for Units at Talen Energy's Brandon Shores and H.A. Wagner Power Plants
By GlobeNewswire Published on May 2, 2025, 03:00 IST HOUSTON, May 01, 2025 (GLOBE NEWSWIRE) — Talen Energy Corporation ('Talen') (NASDAQ: TLN) announced today that the Federal Energy Regulatory Commission (the 'FERC') has approved the terms under which Talen will operate units at its Brandon Shores and H.A. Wagner power plants until May 31, 2029, beyond their scheduled May 31, 2025 retirement dates. Talen, PJM Interconnection, L.L.C. ('PJM'), and a broad coalition of the Maryland Public Service Commission, Maryland customers, and electric utilities reached agreement in January on the 'reliability-must-run' or 'RMR' agreement approved today by FERC. Under the RMR agreement, Brandon Shores Units 1 and 2 and H.A. Wagner Units 3 and 4 will remain in service and provide power necessary to maintain grid and transmission reliability in and around the City of Baltimore until transmission upgrades to provide reliable power to the area from other sources are complete. 'We appreciate FERC's approval of this important agreement, which will help to ensure the reliable supply of electricity to the people of Baltimore and its surrounding area,' said Mac McFarland, President and Chief Executive Officer of Talen. 'Talen is pleased to help provide critical infrastructure with an RMR structure that simultaneously creates reliable electricity in Baltimore and protects Maryland consumer rates.' About Talen Talen Energy (NASDAQ: TLN) is a leading independent power producer and energy infrastructure company dedicated to powering the future. We own and operate approximately 10.7 gigawatts of power infrastructure in the United States, including 2.2 gigawatts of nuclear power and a significant dispatchable fossil fleet. We produce and sell electricity, capacity, and ancillary services into wholesale U.S. power markets, with our generation fleet principally located in the Mid-Atlantic and Montana. Our team is committed to generating power safely and reliably, delivering the most value per megawatt produced. Talen is also powering the digital infrastructure revolution. We are well-positioned to capture this significant growth opportunity, as data centers serving artificial intelligence increasingly demand more reliable, clean power. Talen is headquartered in Houston, Texas. For more information, visit Investor Relations:Sergio CastroVice President & Treasurer [email protected] Media:Taryne WilliamsDirector, Corporate Communications [email protected] Forward-Looking Statements This communication contains forward-looking statements within the meaning of the federal securities laws, which statements are subject to substantial risks and uncertainties. These forward-looking statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this communication, or incorporated by reference into this communication, are forward-looking statements. Throughout this communication, we have attempted to identify forward-looking statements by using words such as 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'forecasts,' 'goal,' 'intend,' 'may,' 'plan,' 'potential,' 'predict,' 'project,' 'seek,' 'should,' 'will,' or other forms of these words or similar words or expressions or the negative thereof, although not all forward-looking statements contain these terms. Forward-looking statements address future events and conditions concerning, among other things capital expenditures, earnings, litigation, regulatory matters, hedging, liquidity and capital resources and accounting matters. Forward-looking statements are subject to substantial risks and uncertainties that could cause our future business, financial condition, results of operations or performance to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this communication. All of our forward-looking statements include assumptions underlying or relating to such statements that may cause actual results to differ materially from expectations, and are subject to numerous factors that present considerable risks and uncertainties. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
