CPS Energy has acquired PROENERGY’s four natural gas power generation facilities for $1.387 billion, enhancing its generation portfolio and promoting sustainability in Texas.

Target Information

CPS Energy has successfully concluded its acquisition of PROENERGY’s four natural gas power generation facilities, boasting a total electric capacity of approximately 1,632 megawatts (MW), for a valuation of $1.387 billion, pending customary net working capital adjustments. This deal was initially announced on September 16, 2025. The facilities include state-of-the-art peaking natural gas plants located in Harris, Brazoria, and Galveston counties, all integral to the Electric Reliability Council of Texas (ERCOT) market. Under the agreement, PROENERGY will continue to manage staffing, operations, and maintenance of the acquired units, ensuring their safe and efficient operation.

The natural gas power plants acquired are equipped to utilize dual fuels, which offers CPS Energy the flexibility to transition towards a hydrogen fuel blend that promises reduced carbon emissions. By acquiring these modern, operational power plants that leverage proven technology already employed by CPS Energy, the company mitigates the risks associated with new construction, including higher costs, inflation, and potential supply chain disruptions.

Industry Overview in Texas

The energy sector in Texas is one of the most dynamic in the United States, characterized by a commitment to innovation and sustainability. The state is a leader in energy production, with an extensive reliance on natur