Dykema Closes $785M Transaction for CPS Energy

Today Dykema, a leading national law firm, acted as legal advisor to CPS Energy in its acquisition of natural gas plants in Corpus Christi and Laredo, Texas, from Talen Energy for $785 million. The three natural gas plants are an approximately 1,710-megawatt (“MW”) generation portfolio located in the South Zone of the Electric Reliability Council of Texas (“ERCOT”) market. 

This transaction supports CPS Energy's generation plan. It secures an additional 1,710 MWs of power for the greater San Antonio community and will be available as soon as this summer. The addition of these units aligns with the generation plan, which includes the retirement of older units and the addition of a blend of gas, solar, wind, and energy storage.

“We were honored to support CPS Energy in the execution of this acquisition,” said Will Liebmann, lead member for Dykema on the deal. “With so many on our team being a part of the San Antonio community themselves, this was a special project for us to take on.”

The Dykema team that assisted with the transaction was led by Will Liebmann and included Rodrigo Figueroa, Emily Reed, Tom Alleman, Howard Iwrey, Asel Lindsey, Nick Monaghan, Robert Nelson, Andrew Sherwood, Danielle Rushing Behrends, Jillie Foerster, Samantha Chaiken, Peyton Click, and Tyler Hubert.

To learn more about the details of this transaction, please see this press release.