Amazon PPA Amendment Highlights - Talen expands its Power Purchase Agreement (PPA) with Amazon to 1,920 MW at full contract quantity through 2042, with extension options, unlocking premium value on the 2nd Unit[8, 9] - The PPA shifts to "Front-of-Meter," simplifying grid connection and reducing regulatory uncertainty, while maintaining 300 MW "Behind-the-Meter" status in the interim[8, 9] - The deal de-risks PPA delivery by eliminating the need for FERC approval and terminating the Nautilus lease[9] Financial Impact - The expanded PPA is projected to increase Cash Flow Per Share (CFPS) by over 50%[8, 18] - Talen anticipates growing into 50% contracted margins[8, 23] - The company expects approximately $18 billion in notional revenue under the 17-year contract[8, 24] Strategic Benefits - The collaboration establishes a leading and repeatable platform to serve growing data center load in PJM[8, 9] - The agreement strengthens Talen's balance sheet, providing capital allocation flexibility[8, 24] - The partnership includes collaboration to pursue nuclear uprates and Small Modular Reactor (SMR) development around Talen's footprint[9] Community and Stakeholder Benefits - The project is expected to create full-time skilled jobs and attract talent and other businesses to Pennsylvania[13] - It will catalyze significant economic development, including fiber, water, and technology infrastructure[14] - The initiative strengthens Susquehanna, a major employer and significant local taxpayer, and supports license extension beyond 2042[15, 16]