On April 13, Talen Energy Corporation announced it has entered into a joint venture with Pattern Energy Group LP named "PT Energy Transitions" to pursue the development, financing, construction and operation of approximately 1.4 Gigawatts of utility scale renewable energy projects over the next five years.

PT Energy Transitions will benefit from the collective strengths of its partners, including Pattern Energy's development and construction capabilities, while utilizing Talen's advantaged asset footprint.  

The initial PT Energy Transitions project portfolio is comprised of six solar facilities in Pennsylvania and a hybrid solar and wind facility in the Western United States.

The joint venture is an expansion of Talen and Pattern Energy's first joint development project, Montour Solar One, a 100 Megawatt solar power plant to be built adjacent to Talen's legacy Montour fossil generating station in Washingtonville, Pennsylvania. 

Montour is among the coal-fired facilities that Talen announced will cease burning coal by the end of 2025 as part of its transformation to a sustainable, ESG-focused future.

The joint venture is expected to invest approximately $2.0 billion of capital into the energy transition over the next five years, beginning with the Montour Solar project, which is one of the largest renewable investments in Pennsylvania.

"Talen is pleased to expand its long-term relationship with Pattern Energy as we continue our strategic transformation to a renewable energy and digital infrastructure growth platform," said Alex Hernandez, Talen's President. "This joint venture will allow us to accelerate our clean power transformation and grow Talen's enterprise value. PT Energy Transitions is a tangible expression of Talen's Force for Good ESG strategy, which in addition to decarbonizing our asset base, will invest in our communities and provide opportunities for our people."

"Partnering with Talen is a natural fit for Pattern Energy as we combine the respective strengths of our teams to develop a sizeable portfolio of utility scale renewable energy projects," said Mike Garland, President and CEO of Pattern Energy. "Our joint venture accelerates our country's energy transition by utilizing Pattern Energy's leadership in renewable energy development together with Talen's land position and legacy transmission interconnection assets. We look forward to executing on these projects in partnership with Talen and to growing the scope of our PT Energy Transitions joint venture in the years ahead."

May 19 Event

Click Here for a May 19 virtual event that will outline more steps Talen Energy is taking to move toward a more sustainable future.  Other goals include--

-- Zero coal at wholly-owned Talen facilities in Texas by end of 2025

-- About 50 percent of current megawatt hours general are zero-carbon

-- 2.5 gigawatt hours of renewable and storage projects being developed

For more information, visit the Talen Energy Corporation website.

NewsClips:

Ceres: 310 Businesses And Investors Representing Over $3 Trillion In Annual Revenue Urge Biden Administration To Set Ambitious Federal Climate Target

AP: Business Leaders Urge Biden To Set Ambitious Climate Goal

USA Today: Texans Asked To Conserve Electricity As Power Grid Again Strained, This Time Amid Mild Weather, Maintenance

Related Articles This Week:

-- PA Conservative Energy Forum: Harvesting Pennsylvania Clean Energy 'Land & Liberty Coalition' Grassroots Initiative

-- Business, Environment, Energy Groups Praise Introduction Of Bipartisan Bills Increasing Solar Energy Mandate From 0.5% To  5.5% In PA

-- Sen. Scavello Introduces Bill Authorizing Community Solar Projects; $2 Billion Worth Of Projects Waiting For It To Pass

-- House Committee Meets April 19 To Consider Bill Authorizing Solar Energy Subscriber Programs

-- DEP Issues Report Assessing PA's Energy Storage Capacity For A Cleaner, More Resilient Electric Grid

-- Penn State Wind Energy Club Prepares To Compete In DOE Collegiate Wind Competition

-- Bradford White Water Heater Manufacturer, 5 Other PA Companies Receive 2021 EPA ENERGY STAR Partner Of Year Awards

-- DCED Awards Funding To Support Apprentice Program For Geothermal Energy Project Installation Training

-- PA Environmental Council: Reassessing Our Climate Footprint As An Organization

Related Articles - PA Republicans Trying To Block Renewable Energy:

-- Sen. Yaw Bill Would Load Up Renewable Energy Projects, Makers Of Energy Efficiency Products, Biomass, Coal Waste Plants, Alternative Fuels, Even High-Efficiency Locomotives With Bonds To Make Them Less Competitive

-- Sen. Yaw Plans Bills To Stop State From Supporting Solar Energy Projects With Any Foreign Components; Adopt A Moratorium On Rulemaking During A Declared Emergency

-- Sen. Yaw Introduces Bill To Preempt Local Governments From Requiring New Buildings Use Climate-Friendly Energy Sources

-- Sen. Dush Introduces Senate Bill 530 Requiring Recycling Of Solar Panels Thru Broken State Electronic Waste Recycling Program.  Read more here.

Related Articles - Some PA Republicans Trying To Promote Solar Energy:

-- Senators Laughlin, Haywood Announce Bipartisan Bill To Increase AEPS Solar Share To 5.5%

-- Business, Environment, Energy Groups Praise Introduction Of Bipartisan Bills Increasing Solar Energy Mandate From 0.5% To  5.5% In PA

-- Sen. Scavello Introduces Bill Authorizing Community Solar Projects; $2 Billion Worth Of Projects Waiting For It To Pass

[Posted: April 13, 2021]

4/19/2021