CPS Energy to acquire four natural gas power generation facilities from PROENERGY for $1.4bn.

CPS Energy, a natural gas and electric company, agreed to acquire four natural gas power generation facilities from PROENERGY, an engineering, R&D, and manufacturing powerhouse, for $1.4bn. “By acquiring recently constructed, currently operating modern power plants that utilize proven technology already in use by CPS Energy, we avoid higher construction costs, inflationary risk, and long timelines associated with building new facilities – while also enhancing the reliability and affordability of the CPS Energy generation portfolio,” Rudy D. Garza, CPS Energy President and CEO.