Talen energy gains on long-term capacity sale deal

** Shares of independent power producer Talen Energy TLN.O up 3.8% at $375 premarket

** TLN signs a seven-year deal to sell 750 megawatts (MW) of capacity in the PJM market to an investment-grade customer

** Deal covers delivery years 2029-2030 through 2035-2036 and is expected to generate about $100 million in annual revenue

** TLN says the deal, together with previously cleared capacity auctions, provides visibility into about $1 billion of cumulative capacity revenue over 10 years

** Separately, TLN enters agreements covering an additional 1,290 MW of capacity from its Guernsey and Waterford facilities

** As of last close, shares down 3.6% YTD