Milbank LLP advised Energy Capital Partners, LLC (“ECP”) in connection with the definitive agreements with Talen Energy Corporation (NASDAQ: TLN) pursuant to which Talen will acquire the Waterford Energy Center (“Waterford”) and Darby Generating Station (“Darby”) in Ohio and the Lawrenceburg Power Plant (“Lawrenceburg”) in Indiana, totaling approximately 2.6 gigawatts of natural gas generation capacity, from ECP. The acquisition price is $3.45 billion and consists of approximately $2.55 billion in cash and approximately $900 million in Talen stock. Milbank also advised ECP on its acquisition of the Cornerstone Generation portfolio. “We are pleased to have advised ECP on its initial acquisition of these assets, as well as its agreement to sell this portfolio to Talen Energy,” said Global Corporate/M&A partner and co-head of Milbank’s Global Infrastructure practice John Franchini. “As the PJM region sees increased demand from datacenter buildouts and electrification of other sectors, these assets will continue to provide the region with a critical, reliable source of power generation. We wish Talen great success with the portfolio in the future.” The Milbank team is led by Global Corporate/M&A partner and co-head of Milbank’s Global Infrastructure practice John Franchini and Global Corporate/M&A partner Aaron Stine with special counsel Evelyn Liristis and associates Joysheel Shrivastava, Marc Kilani and Emilie Blicher and law clerk Christian Marciano.