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Released September 19, 2025 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--This week, CPS Energy (San Antonio, Texas) added its name to a growing list of companies that are purchasing natural gas-fired power plants across the U.S., as demand for the fossil fuel rises amid the expanding development of artificial intelligence (AI) and other energy-heavy sectors. American Electric Power Company (Columbus, Ohio) and Blackstone Incorporated (New York, New York) also recently announced high-value gas-fired additions to their portfolios, with the purchased properties to be found in the natural gas-heavy areas of Texas, Ohio and Pennsylvania, respectively.
It is not yet known how much the value of natural gas-fired plant acquisitions across the U.S. will be for 2025, but the total is widely expected to exceed the $4.3 billion worth of acquisitions in 2024, which itself was up from $3.1 billion of acquisitions in 2023, according to energy-focused analytics company Enverus (Austin, Texas), as cited on UtilityDive. In addition, Enverus found the value of individual gas plants has nearly doubled over the past five years.
CPS is snatching up four gas-fired power plants from PROENERGY (Houston, Texas) for roughly $1.39 billion. The plants, which are within the Electric Reliability Council of Texas (ERCOT) market and have a total capacity of 1,632 megawatts (MW), are "dual-fuel capable, providing CPS future optionality to transition to a hydrogen fuel blend that would enable reduced carbon emissions," according to CPS. They are:
Indiana Michigan Power, a subsidiary of American Electric Power (AEP), announced earlier this month it is on track to acquire the Oregon Clean Energy Center in Oregon, Ohio, an 870-MW, natural gas-fired, combined-cycle (NGCC) power plant. The company expects to receive regulatory approval from the Indiana Utility Regulatory Commission (IURC) in December. Subscribers can learn more from a detailed plant profile.
The Oregon Clean Energy Center currently is owned by CPV Group LP (Silver Spring, Maryland), a partnership majority-owned by OPC Energy Limited (Tel Aviv, Israel). The negotiated purchase price of the plant has not been made public, but Indiana Michigan Power says it is "well below the current market cost."
Indiana Michigan Power "is currently navigating a period of unprecedented growth," the subsidiary said in a press release. "As the company looks ahead, peak power demand in Indiana is expected to more than double from approximately 2,800 MW in 2024 to more than 7,000 MW by 2030." Indiana Michigan Power covers AEP's service territories in Indiana and Michigan.
Blackstone raised eyebrows in the energy markets earlier this week when it announced it had agreed to buy the Hill Top Energy Center in Carmichaels, Pennsylvania, from private investment firm Ardian (Paris, France) for roughly $1 billion. While the total purchase price is below that of the CPS deal, it represents about $1,600 per kilowatt, which is higher than most recent gas plant acquisitions. Subscribers can learn more in a detailed plant profile.
"This transaction follows Blackstone's recent July 2025 announcement that it would invest over $25 billion to support the build out of Pennsylvania's digital and energy infrastructure, supporting the AI revolution and help catalyze an additional $60 billion investment into the Commonwealth," Blackstone said in a press release.
Other major developments in recent months include independent power producer Talen Energy Corporation's (Houston) announced acquisition of the Moxie Freedom Energy Center in Berwick, Pennsylvania, and the Guernsey Power Station in Byesville, Ohio, both of which are NGCC plants within the PJM Interconnection market. The 1,058-MW Moxie plant is presently owned by Caithness Energy (Holmdel, New Jersey), while the 2,055-MW Guernsey plant is co-owned by Caithness and BlackRock Incorporated (New York, New York).
Talen, which calls these plants "two of the most efficient natural gas plants in PJM," said in a press release the acquisitions "enhance Talen's fleet by selectively adding modern, highly efficient, baseload, H-class CCGTs [combined-cycle gas turbines] in Talen's key markets, where we are an innovator in data-center contracting." Subscribers can learn more from detailed profiles of the Moxie and Guernsey plants.
Subscribers to Industrial Info's GMI Plant Database can click here for a full list of profiles for plants mentioned in this article.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
It is not yet known how much the value of natural gas-fired plant acquisitions across the U.S. will be for 2025, but the total is widely expected to exceed the $4.3 billion worth of acquisitions in 2024, which itself was up from $3.1 billion of acquisitions in 2023, according to energy-focused analytics company Enverus (Austin, Texas), as cited on UtilityDive. In addition, Enverus found the value of individual gas plants has nearly doubled over the past five years.
CPS is snatching up four gas-fired power plants from PROENERGY (Houston, Texas) for roughly $1.39 billion. The plants, which are within the Electric Reliability Council of Texas (ERCOT) market and have a total capacity of 1,632 megawatts (MW), are "dual-fuel capable, providing CPS future optionality to transition to a hydrogen fuel blend that would enable reduced carbon emissions," according to CPS. They are:
- the Brotman Peaking Power Station in Rosharon; subscribers to Industrial Info's Global Market Intelligence (GMI) Power Plant Database can learn more from a detailed plant profile
- the Topaz Peaking Power Station in Dickinson; see plant profile
- the H.O. Clarke Peaking Power Station in Houston; see plant profile
- the Chamon Power Station in Houston; see plant profile
Indiana Michigan Power, a subsidiary of American Electric Power (AEP), announced earlier this month it is on track to acquire the Oregon Clean Energy Center in Oregon, Ohio, an 870-MW, natural gas-fired, combined-cycle (NGCC) power plant. The company expects to receive regulatory approval from the Indiana Utility Regulatory Commission (IURC) in December. Subscribers can learn more from a detailed plant profile.
The Oregon Clean Energy Center currently is owned by CPV Group LP (Silver Spring, Maryland), a partnership majority-owned by OPC Energy Limited (Tel Aviv, Israel). The negotiated purchase price of the plant has not been made public, but Indiana Michigan Power says it is "well below the current market cost."
Indiana Michigan Power "is currently navigating a period of unprecedented growth," the subsidiary said in a press release. "As the company looks ahead, peak power demand in Indiana is expected to more than double from approximately 2,800 MW in 2024 to more than 7,000 MW by 2030." Indiana Michigan Power covers AEP's service territories in Indiana and Michigan.
Blackstone raised eyebrows in the energy markets earlier this week when it announced it had agreed to buy the Hill Top Energy Center in Carmichaels, Pennsylvania, from private investment firm Ardian (Paris, France) for roughly $1 billion. While the total purchase price is below that of the CPS deal, it represents about $1,600 per kilowatt, which is higher than most recent gas plant acquisitions. Subscribers can learn more in a detailed plant profile.
"This transaction follows Blackstone's recent July 2025 announcement that it would invest over $25 billion to support the build out of Pennsylvania's digital and energy infrastructure, supporting the AI revolution and help catalyze an additional $60 billion investment into the Commonwealth," Blackstone said in a press release.
Other major developments in recent months include independent power producer Talen Energy Corporation's (Houston) announced acquisition of the Moxie Freedom Energy Center in Berwick, Pennsylvania, and the Guernsey Power Station in Byesville, Ohio, both of which are NGCC plants within the PJM Interconnection market. The 1,058-MW Moxie plant is presently owned by Caithness Energy (Holmdel, New Jersey), while the 2,055-MW Guernsey plant is co-owned by Caithness and BlackRock Incorporated (New York, New York).
Talen, which calls these plants "two of the most efficient natural gas plants in PJM," said in a press release the acquisitions "enhance Talen's fleet by selectively adding modern, highly efficient, baseload, H-class CCGTs [combined-cycle gas turbines] in Talen's key markets, where we are an innovator in data-center contracting." Subscribers can learn more from detailed profiles of the Moxie and Guernsey plants.
Subscribers to Industrial Info's GMI Plant Database can click here for a full list of profiles for plants mentioned in this article.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
