Talen Energy to acquire 2.6 GW PJM gas assets from ECP for $3.45B

On January 15, 2026, Talen Energy Corporation, a Delaware corporation (the “Company”), Buckeye CG Holdings, LLC, a Delaware limited liability company and an indirect wholly owned subsidiary of the Company (“Buyer”), and certain other indirect wholly owned subsidiaries of the Company, entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Cornerstone Generation Holdings, LP, a Delaware limited partnership, ECP Cornerstone Generation Holdings GP, LLC, a Delaware limited liability company, ECP V-B (AG IP) Blocker Corp, a Delaware corporation, ECP V-C (AG IP) Blocker Corp, a Delaware corporation, ECP V-D (AG IP) Blocker Corp, a Delaware corporation (collectively, the “Acquired Companies”), ECP V-D, LP, a Delaware limited partnership, as the representative of the Acquired Company Equityholders (as defined in the Merger Agreement) (the “Holder Representative”), and solely for the limited purposes set forth therein, ECP GP V, LP, a Delaware limited partnership.