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# Talen Energy (TLN)

A US power producer that supplies Amazon's data centers from its Susquehanna nuclear plant under a contract through 2042.

Updated Oct 29, 2026

Information and analysis only, not a recommendation to buy, sell or hold any security. The author may own securities discussed.

Researched and drafted with AI agents. Every figure is taken from a source cited on the page.

Analysis and information

## What it does

Talen Energy is an independent power producer based in Houston. It owns and operates about 15.7 GW of power plants, including 2.2 GW of nuclear, in the Mid-Atlantic, Ohio, Indiana and Montana. It earns revenue from electricity, capacity and grid services in wholesale markets.

## Role in the theme

In **Power for data centers**, Talen is a nuclear supplier to a hyperscaler. Under a 2025 agreement, it will provide Amazon with up to 1,920 MW from its Susquehanna nuclear plant through 2042, reaching full volume no later than 2032. It also reports a pipeline of about 4 GW of land development and data-center contracting options.

## Latest

- **2026-10-13:** set its Q3 report for 2026-11-03, with a call at 8 a.m. ET.
- **2026-09-29:** named its president as the next CEO, effective 2027-01-01. The current CEO steps down that day.
- **2026-09-29:** transferred the rights to about $1.5 billion of future PJM capacity revenue for the 2027/28 and 2028/29 delivery years. It received the money up front, discounted at SOFR plus 200 basis points. It keeps the obligation to run the plants and perform as a capacity resource.
- **2026-09-29:** raised its share repurchase authorization by $1.5 billion, to $3.0 billion, and entered $1.5 billion of accelerated share repurchase agreements.
- **2026-09-29, PJM:** FERC accepted PJM's one-time reliability backstop procurement but suspended it for five months. PJM did not start it on 2026-09-30 and said "actual timing is to be determined."
- **2026-08-05, Q2 results:** adjusted EBITDA of $374 million and adjusted free cash flow of $212 million. GAAP net loss of $92 million. It raised 2026 guidance to $2,025-2,225 million of adjusted EBITDA. It cleared over 10 GW in PJM's 2028/2029 capacity auction at $325.00 per MW-day. It closed the Cornerstone acquisition, about 2.6 GW, on 2026-06-15.

## What to watch

- Q3 results on 2026-11-03, with a call at 8 a.m. ET.
- New long-term contracts with large loads from its 4 GW development pipeline.
- A new PJM timeline for the backstop procurement.
- The CEO handover on 2027-01-01.

## Covered in

- Theme: [Power for data centers](/research/themes/power-data-centers)

## Sources

Primary means the publisher of the data or the filing; secondary means press or an aggregator.
- [Talen Energy second quarter 2026 results](https://www.sec.gov/Archives/edgar/data/1622536/000162253626000065/a20260805q22026earningsrel.htm)Primary 2026-08-05
- [Talen Energy expands nuclear energy relationship with Amazon](https://www.sec.gov/Archives/edgar/data/1622536/000162828025030559/a20250611pressreleasebusin.htm)Primary 2025-06-11
- [Talen Energy 8-K: CEO succession, capacity monetization and share repurchases](https://www.sec.gov/Archives/edgar/data/1622536/000162253626000074/tln-20260925.htm)Primary 2026-09-29
- [Talen Energy to report third quarter 2026 results on November 3](https://ir.talenenergy.com/news-releases/news-release-details/talen-energy-report-third-quarter-2026-financial-results)Primary 2026-10-13
- [Talen Energy third quarter 2026 results date (release text)](https://finviz.com/news/401584/talen-energy-to-report-third-quarter-2026-financial-results-on-november-3-2026)Secondary 2026-10-13
- [PJM: FERC accepts reliability backstop proposal, suspends it five months](https://insidelines.pjm.com/ferc-accepts-pjm-reliability-backstop-proposal/)Primary 2026-09-30
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