Talen Energy receives exclusivity extension through June 30

By Sarah Lizee

Olympia, Wash., Jan. 13 – Talen Energy Supply LLC received an exclusivity extension for its confirmed Chapter 11 plan through June 30, according to an order filed Friday with the U.S. Bankruptcy Court for the Southern District of Texas.

Talen anticipates consummating the plan in the second quarter of 2023.

Before emergence, though, the company will need to obtain regulatory approval from certain governmental entities, including the U.S. Nuclear Regulatory Commission and the U.S. Federal Energy Regulatory Commission, which could take up to six months or longer.

Talen will also be conducting a rights offering, securing adequate exit financing and implementing all other transactions in the plan.

As previously reported, the company’s Chapter 11 plan of reorganization was confirmed on Dec. 14.

The plan had the support of all of the debtors’ key stakeholders including the secured and unsecured creditor groups, the direct and indirect owners of the company’s equity interests and the official committee of unsecured creditors.

Houston-based Talen Energy Supply is one of the largest competitive power generation and infrastructure companies in North America. The company filed bankruptcy on May 9, 2022 under Chapter 11 case number 22-90054.

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