TotalEnergies to buy gas power plants in Texas

• 1 year, 1 month ago (2023-11-15)
• David Flin

Gas 396 North America 1027

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TotalEnergies (TTE) has signed an agreement with TexGen to acquire three gas-fired plants in Texas, USA for $625 million with a total capacity of 1.5 GW. The three plants are connected to the grid of the Electric Reliability Council of Texas (ERCOT).

The plants include the 745 MW CCGT plant at Wolf Hollow I, located near Dallas; Colorado Bend I, south of Houston, which has a 530 MW CCGT and a 74 MW OCGT; and the 150 MW OGCT La Porte facility, southeast of Houston.

TTE plans to expand its power generation to more than 100 TWh by 2030, investing $4 billion per year and increasing cash flow from $2 billion in 2023 to more than $4 billion by 2028, becoming net cash-flow positive. It is building a portfolio of low-carbon businesses that could account for 15-20 per cent of sales by 2040.