Hanwha Energy Enters Agreement to Acquire Texas Gas-Fired Power Generation Facility

Hanwha Energy Enters Agreement to Acquire Texas Gas-Fired Power Generation Facility HOUSTON--( BUSINESS WIRE)--Today, Hanwha Energy USA Holdings Corporation (HEUH), a subsidiary of Hanwha Energy, announced it entered into an agreement in mid-February to acquire a natural gas-fired power generation asset in Texas. This transaction represents another step in the company’s ongoing strategic expansion into power generation in the U.S.

“Our experience developing and operating gas-fired generation allows us to support reliability and meet the increasing demand in ERCOT.” Joo Yoon, CEO at HEUH

The proposed acquisition includes a 324-MW simple-cycle facility located in ERCOT’s West Zone. The transaction remains subject to customary closing conditions and regulatory approvals and is expected to close in mid-April.

Hanwha Energy is an established gas-fired power generation developer in Korea and across Asia. The planned acquisition builds on the company’s extensive operational expertise in flexible thermal power generation.

“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 Ector Facility is in ERCOT’s West Zone, a region closely connected to the Permian Basin, where abundant natural gas supply and growing industrial activity are driving increased electricity demand.

The planned acquisition also strengthens Hanwha’s broader U.S. energy 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.”

ERCOT continues to experience significant increases in electricity demand driven by population growth, data center development, and increasing electrification across industries. Flexible natural gas generation remains a critical component in maintaining grid stability while supporting the broader energy transition.

Additional details will be announced following closing.

About Hanwha Energy

Hanwha Energy is a comprehensive power solutions company with a diversified portfolio spanning power generation, storage, infrastructure development, and retail. With an established track record across multiple continents, the company delivers reliable and flexible energy solutions to meet growing market demands and continues to expand its global footprint in key energy markets, including the United States.

About Hanwha Energy USA Holdings

Hanwha Energy USA Holdings is the U.S. subsidiary of Hanwha Energy and serves as its investment and incubation platform in the United States. The company develops and delivers integrated energy and power infrastructure solutions, including renewable energy, energy storage, gas-fired power generation, data center infrastructure, and retail electricity businesses, supporting innovative and reliable energy systems across the United States.

About Chariot Energy

Chariot Energy is a Texas-based retail electricity provider serving residential and large commercial customers across ERCOT, with plans to enter the PJM market. The company focuses on delivering competitive energy products while supporting the transition to more sustainable, resilient, scalable, and secure energy solutions by leveraging Hanwha’s global capabilities across development, manufacturing, operations, and customer service.