Talen to Acquire Cornerstone Power Assets

Talen Energy signed a definitive agreement to acquire the Waterford Energy Center and Darby Generating Station in Ohio, plus the Lawrenceburg Power Plant in Indiana, collectively the Cornerstone Acquisition, from Energy Capital Partners. The filing says the deal will add baseload generation and strengthen Talen’s presence in the western PJM market.

The same filing reports Talen completed the Freedom and Guernsey acquisitions in November 2025, increasing generating capacity by approximately 2.8 gigawatts. It also reaffirms 2026 adjusted EBITDA and adjusted free cash flow guidance ranges and notes a share repurchase program increased to $2 billion through year end 2028.