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3d ago

CPS Energy to Buy Four Texas Gas Plants for About $1.3B, Adding 1,632 MW

The utility says the purchase offers faster, cheaper capacity than building new plants.

CPS Energy is acquiring four ProEnergy power plants, including the site shown here. The deal will add 34 individual generators to the utility’s portfolio, enough generation capacity to power over 400,000 homes. 
CPS Energy is acquiring four ProEnergy power plants, including the site shown here. The deal will add 34 individual generators to the utility’s portfolio, enough generation capacity to power over 400,000 homes. 
CPS Energy is acquiring four ProEnergy power plants, including the site shown here. The deal will add 34 individual generators to the utility’s portfolio, enough generation capacity to power over 400,000 homes. 
CPS Energy.

Overview

  • The deal covers four recently built PROENERGY facilities in Harris, Brazoria and Galveston counties with 34 generators totaling 1,632 megawatts.
  • CPS expects the transaction to close by the end of this month in the third quarter, according to the utility.
  • The purchase includes roughly two-thirds of WattBridge equity, with PROENERGY continuing to staff and operate the plants under operations and maintenance and total care agreements.
  • CPS projects the added capacity could lower San Antonio customers’ bills by about $2 to $4 per month and boost its generation portfolio by roughly 30%.
  • The aeroderivative units, built between 2020 and 2024, can co‑fire hydrogen in the future, and CPS says the acquisition price equates to about $850 per kilowatt versus an estimated $2,000–$2,500 to build new.