TotalEnergies to Buy Texas Gas Power Plants for $635 Million (1)

TotalEnergies SE agreed to buy three natural gas-fired power plants in Texas from TexGen Power LLCfor $635 million as it looks to expand in the US market.

The three plants will serve the “fast-growing energy demand” of Dallas and Houston, offsetting the intermittency of renewable power production, the French energy giant said in a statement Monday, confirming an earlier Bloomberg News report. They have a joint capacity of 1.5 gigawatts.

TotalEnergies has pursued gas plants to complement its growing fleet of wind and solar farms that provide more sporadic generation. Chief Executive Officer Patrick Pouyanne said last month that ...