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Talen Energy Corp. faced the challenge of expanding its energy generation capacity within the competitive PJM power market. To address this, the company sought to acquire two highly efficient natural gas plants: Caithness Energys Moxie Freedom Energy Center in Pennsylvania and the Guernsey Power Station in Ohio, which is co-owned by Caithness Energy and BlackRock. The acquisition, valued at approximately $3.8 billion, was aimed at enhancing Talens fleet with modern, high-efficiency H-Class combined-cycle gas turbines (CCGTs) and strengthening its platform for data center and large-load contracting. White Case LLP provided tailored legal advice throughout this complex transaction, which included the acquisition of equity interests in Guernsey held by mid-market infrastructure funds managed by Global Infrastructure Partners, a part of BlackRock. Talen Energy planned to issue around $3.8 billion in new debt to finance these acquisitions, with the expected closing of the transactions set for the fourth quarter of 2025. This strategic move not only positions Talen to increase its operational efficiency but also enhances its competitive edge in the energy market by integrating advanced technology into its generation portfolio.