By Pierre Bertrand

 

TotalEnergies said it has signed an agreement with TexGen Power to acquire three gas-fired power plants for $635 million.

The plants, near the cities of Dallas and Houston in the southern U.S. state of Texas, have a total power capacity of 1.5 gigawatts.

The plants are connected to the state's Electric Reliability Council of Texas, the second-largest power market in the country, the French oil and gas major said.

The plants will serve the energy demands of the two cities and will allow for the offsetting of what the company said was "the intermittency of renewable power production."

The plants will additionally complement TotalEnergies' renewable capacity in the state while boosting its gas and power market capabilities, the company said.

The deal remains subject to approval by relevant authorities, TotalEnergies said.

 

Write to Pierre Bertrand at pierre.bertrand@wsj.com

 

(END) Dow Jones Newswires

November 13, 2023 02:52 ET (07:52 GMT)

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