Talen Energy Is Building Data Centers That Run on Nuclear Power. Now, It Needs to Find Buyers

Independent nuclear power company Talen Energy is betting its future on supplying power to technology companies that are looking for carbon-free energy sources to develop their artificial-intelligence capabilities. 

Talen, which exited bankruptcy this year, is developing a 1,200-acre data-center campus with dedicated power supply from the Susquehanna nuclear plant in Berwick, Pa., according to the company’s public presentations. Talen could lease, sell or form a joint venture with technology companies such as Google, Microsoft or to operate the facility, according to Talen shareholders  and a report by investment bank Oppenheimer.  In December, Oppenheimer analysts initiated coverage of the company, and added that such a deal could boost the company’s cash flow by $50 million annually.  A power-supply contract to a tenant or buyer would yield higher rates than what Talen would earn in the wholesale power market since commercial customers, such as data centers, pay more for electricity, the company has said.

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