CPS Energy invests in more power for San Antonio
CPS Energy announced that it bought three natural gas plants in Laredo and Corpus Christi adding to its power generation. CPS Energy has purchased two natural gas plants in Laredo and Corpus Christi, Texas, for $785 million. The purchase will add around 1,710 megawatts of capacity to CPS Energy's generation portfolio and aligns with its Vision 2027 plan to close 2,249 megawatts from older and inefficient power generation capacity before 2030. The plants are expected to be in operation for another 25 years and will help replace that generation loss. The acquisition of these plants will allow CPS Energy to provide reliable and affordable energy supply to a growing San Antonio community while balancing its commitment to reducing carbon emissions by 2030.
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CPS Energy made a multimillion investment in more power generation and reliability for San Antonio with the purchase of two natural gas plants in South Texas. The city-owned utility company is in the process of buying two plants in Laredo and Corpus Christi from Talen Energy Corporation for $785 million, according to a news release.
CPS Energy is acquiring the 897-megawatt Barney Davis and 635-megawatt Nueces Bay natural gas-fired generation facilities in Corpus Christi, as well as the 178-megawatt natural gas facility in Laredo, adding around 1,710 megawatts of capacity to CPS Energy's generation portfolio, the news release says.
"The purchase of these assets furthers CPS Energy’s commitment to deliver reliable and affordable energy supply to one of the nation’s fastest growing communities, while also balancing our commitment to reduce carbon emissions by 2030,” said Rudy Garza, president and CEO of CPS Energy in the news release.
Garza refers to CPS Energy's Vision 2027 plan that aims to close 2,249 megawatts from older and inefficient power generation capacity before 2030. The new plants in Laredo and Corpus Christi are expected to be in operation for another 25 years and will help replace that generation loss. CPS Energy has already added 730 megawatts of solar energy and 50 megawatts of energy storage.
The news release says that all three of the plants have around 65 employees, but they will only be offered the opportunity to apply for a CPS energy postion when the purchase closes in mid-2024.