-- Joint Venture will develop 1.4 Gigawatts of solar and wind energy projects
     principally located on Talen's asset footprint and create a $2.0 billion
     energy transition growth investment opportunity 

Talen Energy Corporation ("Talen") announced today that it has entered into a 
joint venture with Pattern Energy Group LP ("Pattern Energy") named "PT Energy 
Transitions" to pursue the development, financing, construction and operation 
of approximately 1.4 Gigawatts of utility scale renewable energy projects over 
the next five years. PT Energy Transitions will benefit from the collective 
strengths of its partners, including Pattern Energy's development and 
construction capabilities, while utilizing Talen's advantaged asset 
footprint.   

The initial PT Energy Transitions project portfolio is comprised of six solar 
facilities in Pennsylvania and a hybrid solar and wind facility in the Western 
United States. The joint venture is an expansion of Talen and Pattern Energy's 
first joint development project, Montour Solar One, a 100 Megawatt solar power 
plant to be built adjacent to Talen's legacy Montour fossil generating station 
in Washingtonville, Pennsylvania.  Montour is among the coal-fired facilities 
that Talen announced will cease burning coal by the end of 2025 as part of its 
transformation to a sustainable, ESG-focused future. The joint venture is 
expected to invest approximately $2.0 billion of capital into the energy 
transition over the next five years, beginning with the Montour Solar project, 
which is one of the largest renewable investments in Pennsylvania.  

"Talen is pleased to expand its long-term relationship with Pattern Energy as 
we continue our strategic transformation to a renewable energy and digital 
infrastructure growth platform," said Alex Hernandez, Talen's President. "This 
joint venture will allow us to accelerate our clean power transformation and 
grow Talen's enterprise value. PT Energy Transitions is a tangible expression 
of Talen's Force for Good ESG strategy, which in addition to decarbonizing our 
asset base, will invest in our communities and provide opportunities for our 
people."

"Partnering with Talen is a natural fit for Pattern Energy as we combine the 
respective strengths of our teams to develop a sizeable portfolio of utility 
scale renewable energy projects," said Mike Garland, President and CEO of 
Pattern Energy. "Our joint venture accelerates our country's energy transition 
by utilizing Pattern Energy's leadership in renewable energy development 
together with Talen's land position and legacy transmission interconnection 
assets. We look forward to executing on these projects in partnership with 
Talen and to growing the scope of our PT Energy Transitions joint venture in 
the years ahead."

Talen management will provide additional details at Talen's ESG Equity Investor 
Day on May 19th.  Institutional investors may register to participate in the 
event via the following registration link:  
https://talenenergy.investorroom.com/2021-esg-equity-investor-day .  
Information on Talen's website is not part of this press release.

Citi acted as exclusive financial advisor to Talen. Gibson Dunn & Crutcher, LLP 
acted as legal counsel.

About Talen Energy Corporation 

Talen is one of the largest competitive power generation and infrastructure 
companies in North America. The company owns and/or controls approximately 
13,000 megawatts of generating capacity in wholesale U.S. power markets, 
principally in the Mid-Atlantic, Texas and Montana. Talen is developing a 
large-scale portfolio of renewable energy, battery storage, and digital 
infrastructure assets across its expansive footprint.  For more information, 
visit https://www.talenenergy.com/esg-focused-future/

About Pattern Energy

Pattern Energy is one of the world's largest privately-owned developers and 
operators of wind, solar, transmission, and energy storage projects. Its 
operational portfolio includes 28 renewable energy facilities that use proven, 
best-in-class technology with an operating capacity of 4.4 GW in the United 
States, Canada and Japan. Pattern Energy is guided by a long-term commitment to 
serve customers, protect the environment, and strengthen communities. For more 
information, visit www.patternenergy.com.

Talen Investor Contact

Olivia Sigo 
Director, Finance, Investor Relations & ESG
+1 281-203-5387
Olivia.Sigo@talenenergy.com 

Talen Media Contact

Taryne Williams
Media & Community Relations Manager
+1 610-601-0327
Taryne.Williams@talenenergy.com

Cautionary Statement Regarding Forward-Looking Information

This press release includes "forward-looking statements." All statements, other 
than statements of historical fact, included in this press release that address 
activities, events or developments that Talen expects, believes or anticipates 
will or may occur in the future, as well as aspirational goals, are 
forward-looking statements. These statements are based on certain assumptions 
made by Talen based on its experience and perception of historical trends, 
current conditions, expected future developments and other factors it believes 
are appropriate. You are cautioned not to place undue reliance on these 
forward-looking statements, which speak only as of the date of this press 
release. All forward-looking statements are qualified in their entirety by this 
cautionary statement. Talen undertakes no obligation and does not intend to 
update these forward-looking statements to reflect events or circumstances 
occurring after the issuance of this press release, except as required by law. 
This press release and the materials referred to herein are not an offer to 
sell or purchase, or a solicitation of an offer to sell or purchase, any 
securities.

SOURCE: Talen Energy Corp.