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TotalEnergies to buy gas power plants in Texas

  • 14 days ago (2023-11-15)
  • David Flin
Gas 335 North America 975

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).

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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.