Talen Energy Rises 5% After PJM Capacity Deals

The largest disclosed agreement is a seven-year deal to sell 750 megawatts from Talen’s Guernsey Power Station to an investment-grade counterparty. Covering PJM delivery years 2029/2030 through 2035/2036, it is expected to generate about $100 million in annual revenue, the company said.

Separate agreements cover another 588 megawatts at Guernsey and 702 megawatts at the Waterford Energy Center. Through Tuesday’s close, Talen shares were down about 9% year to date.