NRG acquires 738 MW of natural gas plants in Texas

Sean Wolfe | Source: Power Engineering | Posted 03/14/2025

Keyword Tags:

NRG Energy has entered into a definitive agreement to acquire six power generation facilities from Texas-based Rockland Capital, LLC, adding 738 megawatts (MW) of natural gas-fired capacity to its portfolio.

AI generated summary

NRG Energy has announced its acquisition of six natural gas power generation facilities from Rockland Capital, LLC, totaling 738 megawatts (MW) of capacity. The deal, valued at $560 million, includes one combined-cycle unit and five peaker units, and is expected to enhance NRG's position as a leading generator in Texas. The acquisition will be funded primarily through corporate debt and is projected to be earnings-accretive, with no impact on NRG's capital allocation plan. The transaction is pending regulatory approval and is anticipated to close in the second quarter of 2025.

In addition to this acquisition, NRG is pursuing further expansion in Texas with plans for new quick-start natural gas projects totaling 1,600 MW in the Electric Reliability Council of Texas (ERCOT). These projects include a 721 MW combined-cycle unit at Cedar Bayou and two peaking projects near Houston. NRG's chair emphasized the rapid growth of Texas's electricity sector, projecting a 77% increase in consumption by 2030, and highlighted the importance of advancing shovel-ready projects to meet the state's energy demands.

Link to Original Article

Please find the link to the full article below. (Please note that content provider might require a paid subscription)

Source Link: https://www.power-eng.com/gas/nrg-acquires-738-mw-of-natural-gas-plants-in-texas/

Create a free trial account: Sign Up

Grid monitor is free to try. No credit card required

NRG acquires 738 MW of natural gas plants in Texas

AI generated summary

Link to Original Article

Create a free trial account: Sign Up

Already have an account? Login