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NRG Energy, Inc. to acquire 738 MW of natural gas generation in Texas for $560 million. Deal expected to boost presence in growing energy market.

NRG Energy&#39;s $560 Million Acquisition Adds 738 MW of Flexible Gas-Fired Power: Details

On Wednesday, NRG Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>) disclosed that it inked definitive deal to acquire six power generation facilities from Texas-based Rockland Capital, LLC. <a target="_blank" href="https://www.benzinga.com/pressreleases/25/03/b44291390/nrg-to-acquire-738-mw-of-natural-gas-generation-in-texas" rel="noreferrer noopener">for $560 million or $760 per kW</a>.



The company said that the purchase price is significantly below the cost of new construction. The deal will further boost NRG&#8217;s presence in the energy market.



This acquisition adds 738 MW of flexible natural gas-fired capacity, including one combined-cycle unit and five peaker units.



The buyout is projected to be earnings-accretive and expected to be primarily funded through corporate debt.



The acquisition, which is subject to Hart-Scott-Rodino (HSR) regulatory approval, is expected to conclude in the second quarter of 2025.



Robert J. Gaudette, Executive Vice President, President of NRG Business and Wholesale Operations, stated, &#8220;Expanding our natural gas generation portfolio with modern, flexible assets enhances our integrated platform as Texas experiences record electricity growth driven by electrification, onshoring, population growth, and data centers – creating long-term value for our shareholders.&#8221;



The company also announced a $2.5 million investment in Equilibrium Energy to enhance market intelligence and address grid volatility caused by load growth, <a target="_blank" href="https://www.benzinga.com/pressreleases/25/03/b44282175/nrg-energy-announces-2-5-mm-investment-in-equilibrium-energy" rel="noreferrer noopener">renewables, and extreme weather</a>.



As of Dec. 31, NRG&#8217;s unrestricted cash was $1.0 billion, and $4.5 billion was <a target="_blank" href="https://www.benzinga.com/news/earnings/25/02/43977188/nrg-energy-beats-q4-eps-estimates-unveils-ai-power-expansion-and-reaffirms-2025-growth-outlook" rel="noreferrer noopener">available under the credit facilities</a>.



Investors can gain exposure to the stock via SPDR Galaxy Transformative Tech Accelerators ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEKX#NASDAQ">TEKX</a>) and Northern Lights Fund Trust IV Inspire Momentum ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLRY#NYSE">GLRY</a>).



Price Action: NRG shares are down 0.29% at $92.20 premarket at the last check Thursday.



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Latest SPDR Galaxy Transformative Tech Accelerators ETF News | NASDAQ:TEKX | Benzinga

Thursday, March 13, 2025

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