Hanwha to Acquire 324-MW Gas-Fired Power Plant in Texas ERCOT Market

Hanwha Energy has agreed to acquire a 324-MW gas-fired power plant in ERCOT’s West Zone, strengthening its U.S. footprint as power demand rises across Texas.

(P&GJ) — Hanwha Energy has agreed to acquire a 324-MW natural gas-fired power plant in Texas, expanding its presence in the ERCOT market as electricity demand continues to rise.

The proposed acquisition includes a simple-cycle facility located in ERCOT’s West Zone, a region tied closely to the Permian Basin, where natural gas supply and industrial activity are driving increased power demand. The deal is expected to close in mid-April, pending regulatory approvals and customary conditions.

The move marks a further step in Hanwha’s expansion into the U.S. power sector, building on its experience operating gas-fired generation assets in Asia.

“This asset represents a high-quality, flexible generation resource designed to rapidly adjust output in response to demand in one of the fastest-growing power markets in the United States,” said Joo Yoon, CEO at HEUH. “Our experience developing and operating gas-fired generation allows us to support reliability and meet the increasing demand in ERCOT.”

The facility is designed to provide flexible generation that can respond quickly to changes in grid demand, a key requirement as ERCOT continues to see load growth driven by population increases, industrial expansion and data center development.

Hanwha said the acquisition also supports its broader U.S. platform, which includes Chariot Energy, a Texas-based retail electricity provider.

“This transaction reflects our long-term commitment to the Texas energy market,” said Inkyu Park, CEO at Chariot Energy. “Subject to closing, the addition of this asset represents Hanwha’s continued investment in the U.S. market, with this facility benefiting ERCOT energy consumers.”