By Dean Seal
NRG Energy has agreed to acquire LS Power's portfolio of natural gas generation facilities and power plant platform in a cash-and-stock deal with an enterprise value of about $12 billion.
The power company said Monday that the acquisition gives it 18 more natural gas-fired facilities located across nine states, doubling its generation capacity and expanding its footprint.
NRG is also acquiring CPower, LS Power's commercial and industrial virtual power plant platform which operates in all of the country's deregulated energy markets.
Chief Executive Larry Coben said the deal strengthens NRG's credit profile and growth rates.
The transaction includes $6.4 billion in cash consideration, $2.8 billion in stock consideration and $3.2 billion in net debt, net of about $400,000 of tax benefits. The deal is expected to close in the first quarter of 2026.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
May 12, 2025 07:33 ET (11:33 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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