PROVIDENCE, RI – DH Capital, a Division of Citizens, announced that it served as the exclusive M&A advisor to Talen Energy Corporation on the sale of Cumulus Data, a nuclear direct-connect hyperscale data center campus.
Cumulus is a hyperscale data center campus adjacent to Talen’s 2.5 GW nuclear power station in Pennsylvania, the Susquehanna Steam Electric Station. The data center campus is directly connected to the carbon-free Susquehanna nuclear facility, with up to 960 MW of potential redundant capacity. In addition to the campus sale, Talen has entered into a long-term power purchase agreement, establishing contracted cash flows and growth trajectory for Susquehanna with an investment-grade tenant. Talen announced the sale of Cumulus Data on Monday, March 4th, 2024.
DH Capital is the digital infrastructure advisory division within the broader Citizens M&A Advisory organization. DH Capital is highly focused on the digital infrastructure sector, having closed over $43 billion of M&A transactions since 2017.
Citizens M&A Advisory specializes in middle-market mergers and acquisitions. Citizens combines sector intelligence with a client-focused approach to realize our clients’ true value. The Citizens team has more than 100 M&A professionals specializing in a range of industries across the United States. Citizens M&A Advisory is part of Citizens JMP Securities, LLC, a subsidiary of Citizens Financial Group (NYSE: CFG).
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $222.0 billion in assets as of December 31, 2023. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a full-service customer contact center and the convenience of approximately 3,300 ATMs and approximately 1,100 branches in 14 states and the District of Columbia. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.
