SEATTLE (Oil Monster): CPS Energy, a utility located in San Antonio, stated that it had acquired four natural gas power plants in southeast Texas from PROENERGY, a company based in Missouri. The purchase is a component of its endeavors to acquire more capacity to satisfy the state's increasing energy requirements. The third quarter of 2025 is when the deal is anticipated to close.
The purchase agreement, which includes plant sites in Harris, Galveston, and Brazoria counties, is valued at $1.387 billion. The Electric Reliability Council of Texas (ERCOT) grid is linked to all four of the purchased facilities. At least 325,000 houses could be powered annually by the estimated 1,632 megawatts (MW) of combined capacity from the acquired plants.
Rudy D. Garza, President and CEO of CPS Energy, commented on the acquisition, saying that since the facilities can eventually run on hydrogen mixes, it helps the company's longer-term decarbonization goals.
The purchase is in line with CPS Energy's previously declared Vision 2027 Generation Plan, which aims to increase the portfolio's renewable content from 22% to 63% by 2040. Additionally, it aligns with San Antonio's broader goal of becoming carbon neutral by 2050.
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