NRG to acquire 738 MW of natural gas generation in Texas (U.S.)
- Expanding flexible and dispatchable fleet to meet growing energy demand
NRG Energy Inc. has entered into a definitive agreement to acquire six power generation facilities from Texas-based Rockland Capital, LLC, adding 738 megawatts (MW) of modern, flexible natural gas-fired capacity to its portfolio. The acquisition includes one combined-cycle unit and five peaker units, further strengthening NRG’s position in the rapidly growing market.
NRG is acquiring these assets for $560 MM or $760 per kW, significantly below the cost of new construction. The acquisition is earnings-accretive and will be primarily funded through corporate debt, with no impact on the company's stated capital allocation plan.
“This acquisition reinforces our position as a leading generator in Texas,” said Robert J. Gaudette, Executive Vice President, President of NRG Business and Wholesale Operations. “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.”
The acquisition is subject to Hart-Scott-Rodino (HSR) regulatory approval and is expected to close in 2Q 2025.
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