New Risk • Jul 02
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Italian stocks, typically moving 8.4% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.8x net interest cover). Share price has been highly volatile over the past 3 months (8.4% average weekly change). Minor Risk Significant insider selling over the past 3 months (€852k sold). Recent Insider Transactions • Jun 18
Independent Director recently sold €852k worth of stock On the 15th of June, Gizman Abbas sold around 3k shares on-market at roughly €328 per share. This transaction amounted to 50% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. 공고 • Jun 17
Talen Energy Corporation (NasdaqGS:TLN) completed the acquisition of High-Quality PJM Natural Gas Assets from Energy Capital Partners, LLC. Talen Energy Corporation (NasdaqGS:TLN) entered into definitive agreement to acquire High-Quality PJM Natural Gas Assets from Energy Capital Partners, LLC for $3.5 billion on January 15, 2026. A cash consideration of $2.55 billion will be paid by Talen Energy Corporation, subject to customary adjustments for net working capital, cash, indebtedness, certain casualty losses and transaction expenses, and the stock component of consideration consists of 2.399998 million shares of Talen Energy Corporation having a value of $900 million to be issued for assets of High-Quality PJM Natural Gas Assets. As part of consideration, $3.45 billion is paid towards assets of High-Quality PJM Natural Gas Assets. Talen expects to issue new debt to fund the cash portion of the purchase price.
The transaction is subject to the satisfaction of customary closing conditions, including the expiration or termination of the waiting period pursuant to the Hart-Scott-Rodino Act of 1976, and regulatory approvals from the Federal Energy Regulatory Commission, Indiana Utility Regulatory Commission and other regulatory agencies, and is expected to close early in the second half of 2026. As of April 16, 2026, Talen Energy Supply, LLC, a wholly owned subsidiary of Talen Energy Corporation has priced issuances of $1.5 billion in aggregate principal amount of 6.125% senior notes due 2031 and $2.5 billion in aggregate principal amount of 6.375% senior notes due 2033 in private placement transactions. As of June 1, 2026, Talen received clearance from the Federal Energy Regulatory Commission today and from the Indiana Utility Regulatory Commission on May 27, 2026. The waiting period pursuant to the Hart-Scott-Rodino Act of 1976 expired in March 2026.The Company intends to use the net proceeds from the issuance and sale of the Notes to fund the acquisition.
The transaction is expected to be immediately accretive to adjusted free cash flow per share by over 15 % annually through 2030E.
RBC Capital Markets, LLC acted as financial advisor for Talen Energy Corporation. Kirkland & Ellis LLP acted as legal advisor for Talen Energy Corporation. White & Case LLP acted as legal advisor for Talen Energy Corporation. Jefferies LLC acted as financial advisor for Energy Capital Partners, LLC. PEI Global Partners LLC acted as financial advisor for Energy Capital Partners, LLC. John Franchini, Aaron Stine, and Evelyn Liristis of Milbank LLP acted as legal advisor for Energy Capital Partners, LLC.
Talen Energy Corporation (NasdaqGS:TLN) completed the acquisition of High-Quality PJM Natural Gas Assets from Energy Capital Partners, LLC on June 15, 2026. The Acquisition follows the completion of customary closing conditions and receipt of all required regulatory approvals and clearances from the FERC, the Indiana Utility Regulatory Commission, the Federal Trade Commission and the U.S. Department of Justice, and other regulatory agencies. 공고 • Jun 03
Talen Energy Corporation Receives Regulatory Clearances for Lawrenceburg, Waterford and Darby Acquisition Talen Energy Corporation announced that it has received the remaining outstanding regulatory approvals related to its previously announced acquisition of the Lawrenceburg Power Plant in Indiana and the Waterford Energy Center and Darby Generating Station in Ohio from Energy Capital Partners. Talen received clearance from the Federal Energy Regulatory Commission and from the Indiana Utility Regulatory Commission on May 27. The waiting period pursuant to the Hart-Scott-Rodino Act of 1976 expired in March 2026. The Acquisition remains subject to customary closing conditions, which Talen expects to be promptly satisfied, and is anticipated to close in the coming weeks. 공고 • May 22
Talen Energy Corporation Announces Executive Changes Talen Energy Corporation announced that Daniel “Dan” Kelly has been named General Counsel and Corporate Secretary. In this role, Kelly leads the Company’s legal, regulatory, and external affairs functions, oversees corporate governance, and serves as the primary point of contact for the Board of Directors in these areas. He succeeds John Wander, who today retired as General Counsel and Corporate Secretary, following a transition period with Kelly. Kelly brings 25 years of legal and governance experience to Talen. Most recently, he worked for Vistra Corp. as Senior Vice President and Deputy General Counsel, where he oversaw a team of 30 attorneys and compliance specialists, advised senior management and the Board of Directors, and managed all litigation, environmental, nuclear, labor & employment, and commercial regulatory compliance activities. Kelly has also worked as an attorney at the Dallas office of Vinson & Elkins LLP, where his practice focused on a combination of general business litigation, energy/regulatory matters, condemnation, and media litigation. Before entering private practice, he served as a judicial law clerk for A. Joe Fish, chief judge of the U.S. District Court for the Northern District of Texas in Dallas, and for Pasco M. Bowman, circuit judge of the U.S. Eighth Circuit Court of Appeals in Kansas City, Missouri. Prior to law school, he worked in Washington, D.C., as a legislative assistant to U.S. Senator Kent Conrad of North Dakota. Kelly graduated with his law degree cum laude from the University of Michigan and received his undergraduate degree from Lawrence University. Reported Earnings • May 06
First quarter 2026 earnings released: EPS: US$1.38 (vs US$2.94 loss in 1Q 2025) First quarter 2026 results: EPS: US$1.38 (up from US$2.94 loss in 1Q 2025). Revenue: US$1.13b (up 79% from 1Q 2025). Net income: US$63.0m (up US$198.0m from 1Q 2025). Profit margin: 5.6% (up from net loss in 1Q 2025). The move to profitability was driven by higher revenue. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Renewable Energy industry in Europe. 
