TVA entered into a lease-purchase transaction for the Cumberland Combined Cycle Generation Facility in Stewart County, Tennessee. The transaction involves a $2 billion capital raise by Cumberland Combined Cycle Generation LLC (CCCGL), consisting of $1.8 billion in secured notes and $200 million in cash equity. TVA will receive $1,931,875,011 in proceeds to support its power program and cover transaction expenses. The facility is expected to begin commercial operations by December 2026. TVA will lease the facility for 50 years (Head Lease) and lease it back for 30 years (Facility Lease). TVA Board approved amended compensation plans, reducing maximum incentive payouts from 200-225% to 150% for the FY 2027 cycle.