[1] On December 6, 2016, Riverstone Holdings completed the purchase of the remaining 65% of Talen's common stock, making it a privately owned company.
On June 10, 2014, PPL announced that it would spin off its competitive energy business which would merge with Riverstone Holdings' operations to create Talen.
[12] On December 6, 2016, Riverstone Holdings completed the purchase of the remaining 65% of Talen's common stock, making it a privately owned company.
As part of its transformation announcement Talen noted that it will decarbonize its fleet and invest in developing renewable energy, battery storage and digital infrastructure primarily on owned land within its footprint.
It also introduced its "Force for Good" philosophy, which includes maintaining its commitment to the communities in which it operates, by converting, rather than retiring its fossil generation facilities and creating new opportunities for these stakeholders through its transformation.
Both the renewable energy and battery storage projects will largely be constructed on land within Talen's footprint, creating new opportunities for its communities.
During its May 2021 ESG Equity Investor Day, Talen outlined plans to construct a digital infrastructure campus on owned land adjacent to its Susquehanna nuclear generation facility outside Berwick, Pennsylvania.
Upon its emergence, ownership of Talen Energy was transferred to a majority of its unsecured creditors consisting of a number of large financial institutions.
In June 2023, Talen Announced Senior Leadership Changes, including the appointment of Terry Nutt to the role of Chief Financial Officer and John Wander as General Counsel and Corporate Secretary.
The Company owns and/or controls approximately 10.7 gigawatts of generating capacity in wholesale U.S. power markets, principally in the Mid-Atlantic, and Montana.