PR86539

THE WOODLANDS, Texas, Nov. 11, 2020 /PRNewswire=KYODO JBN/ --

-- Talen will cease burning coal across its five Gigawatt wholly-owned fossil

fleet and accelerate ESG infrastructure investments across the Talen power platform

Talen Energy Corp. ("Talen") today announced that it has committed to a

strategic repositioning of its power generation fleet that will eliminate the

use of coal at all Talen wholly-owned facilities. These actions, developed

through discussions with the Sierra Club, are a first step in a larger

transformation of Talen's assets and business model toward a sustainable,

Environmental, Social and Governance ("ESG")-focused future.

Logo - https://mma.prnewswire.com/media/355069/talen_mainlogo.jpg 

In particular, Talen's Montour generation facility located in Pennsylvania and

its Brandon Shores and H.A. Wagner coal generation facilities located in

Maryland will cease coal-fired operations by the end of 2025 and repower

pending approvals by state agencies. These facilities will join Talen's Brunner

Island generation facility in Pennsylvania, which previously committed to

transition from coal by the end of 2028. In total, they represent approximately

five Gigawatts of generating capacity and over 30% of Talen's total generating

capacity. As part of this effort, Talen and the Sierra Club are working toward

an agreement which aims to avoid future litigation or permit disputes related

to coal at Talen's transitioning sites. A statement from Sierra Club in support

of this effort can be found at:

https://www.sierraclub.org/press-releases/2020/11/sierra-club-and-stoney-beach-association-statements-talen-energy-s-commitment 

"Talen is pleased to play a leading role in driving toward a lower carbon

future. We are among the first in the competitive power generation industry to

commit to an accelerated transition from coal. This step, coupled with our ESG

infrastructure investments, are good for our business and all our stakeholders,

including the communities in which our plants are located. By moving to repower

these sites for the future, we maintain our longstanding economic commitment to

our communities, while also providing the environmental benefits of a lower

carbon footprint. This balance is a direct reflection of our "No Harm" culture," said

Ralph Alexander Chairman and Chief Executive Officer for Talen Energy. "Talen is

grateful to the Sierra Club for their relationship as we position for a sustainable future."

Talen Transition and ESG Infrastructure Investments

Under its energy transition plan, Talen is developing renewable energy and

battery storage projects at strategic locations across its asset portfolio,

further positioning it for a lower carbon future that also offers economic and

social benefits to communities in which they will operate.  

"Talen's move away from coal and future growth will be underpinned by

approximately one Gigawatt of renewable energy (solar and wind) and battery

storage projects currently under development across our existing asset

footprint," added Alex Hernandez, President of Talen Energy. "Our first 100

Megawatt solar generation joint project will be located adjacent to our Montour

generation facility in Washingtonville, Pennsylvania. We anticipate the project

will break ground in the fourth quarter of 2021 and be one of the largest

renewable energy investments in the Commonwealth."

Talen intends to repower the impacted plants to run on alternate fuel sources,

with some assuming the role of capacity resource. Talen expects to continue to

support grid reliability and maintain operations in the markets and communities

it has been part of for decades. Additionally, Talen urges Pennsylvania and

Maryland decision-makers to invest in clean energy and transition support for

affected workers and communities.

"Customers in our markets are looking for clean power offerings that meet their

reliability and cost requirements. Talen's combination of renewables,

zero-carbon nuclear, and battery storage assets will provide a clean,

affordable, and reliable power solution to our customers," added Mr. Hernandez.  

Talen ESG Investor Day

Talen will host a virtual ESG investor day in the first quarter of 2021. At the

event, members of Talen Energy's executive team will discuss the company's ESG

infrastructure investments, energy transition strategy, project execution and capital

allocation plan. Details regarding the investor day will be provided at a later date.

About Talen Energy Corp.

Talen Energy is one of the largest competitive power generation and

infrastructure companies in North America. The company owns and/or controls

approximately 14,000 megawatts of generating capacity in well-developed,

structured wholesale U.S. power markets, principally in the Northeast,

Mid-Atlantic and Texas. For more information, visit

http://talenenergy.investorroom.com/index.php 

Investor Contact

Olivia Sigo

Director- Finance, Investor Relations and ESG

+1 281-203-5387

Olivia.Sigo@talenenergy.com

Media Contact

Taryne Williams

Media and Community Relations Manager

+1 610-601-0327

Taryne.Williams@talenenergy.com

SOURCE: Talen Energy Corp.