Kirkland & Ellis advised Talen Energy Corporation on an agreement to sell its approximately 1,710-megawatt generation portfolio located in the South Zone of the Electric Reliability Council of Texas market to CPS Energy for $785 million subject to customary net working capital adjustments at closing. These assets include natural gas plants in Corpus Christi and Laredo. The transaction is expected to close in the second quarter of 2024. Read the transaction press release The Kirkland team was led by corporate partners Bill Benitez, Josh Teahen, Andy Calder and Blake Longoria and associates Scott Myers and Shelby Morgan; tax partner Mark Dundon; energy regulatory partner Drew Stuyvenberg and associate Cassidy Hall; and debt finance partners Lucas Spivey and Osaro Aifuwa.