The Federal Energy Regulatory Commission (FERC) issued an order today approving the proposed merger of Talen Energy Corporation (NYSE: TLN) with an affiliate of Riverstone Holdings LLC, a private investment firm.

FERC concluded that the merger would not have a detrimental effect on competitive wholesale power markets. The order approving the transaction contains no substantive conditions that the two parties must meet.

The merger agreement was announced on June 3, 2016. Talen Energy stockholders approved the proposed merger at a special meeting of stockholders on Oct. 6, 2016.

An application to approve the transaction is pending before the Nuclear Regulatory Commission. The transaction remains on schedule to close by the end of 2016, subject to receipt of NRC approval and satisfaction of other customary closing conditions.

About Talen Energy

Talen Energy is one of the largest competitive energy and power generation companies in North America. The company owns or controls 16,000 megawatts of generating capacity in well-developed, structured wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States. For more information, visit www.talenenergy.com.

About Riverstone

Riverstone is an energy and power-focused private investment firm founded in 2000 by David M. Leuschen andPierre F. Lapeyre, Jr. with approximately $34 billion of equity capital raised. Riverstone conducts buyout and growth capital investments in the exploration & production, midstream, oilfield services, power and renewable sectors of the energy industry. With offices in New York, London, Houston and Mexico City, the firm has committed approximately $30 billion to more than 120 investments in North America, Latin America, Europe,Africa and Asia. Visit www.riverstonellc.com for more information.