NRG Energy acquires LS Power portfolio for $10 billion to double gas power generation.
From Yahoo Finance: 2025-05-12 11:20:00
NRG Energy acquires 18 natural gas-fired power plants for nearly $10 billion from LS Power, doubling gas power generation to prepare for a domestic power market surge. Stock spikes by 25% with announcement. Deal includes 13 gigawatts of power capacity, doubling NRG’s overall generation to over 25 GW.
U.S. grid demand to rise 1.7% per year from 2024 to 2050, driving NRG’s strategic move. Deal includes LS-owned CPower virtual power plant platform with 6 GW capacity. Cash-and-stock deal valued at $9.2 billion. Expected to close in first quarter of 2026.
LS Power to retain about 10 GW of power generation after deal. NRG recently closed smaller deal for 738 megawatts in Texas. NRG also launched joint venture for 5 GW of gas-fired power in Texas and Northeast. LS Power to control less than 10% of NRG’s voting rights.