NRG Energy has entered into a plan sponsor agreement with Edison Mission Energy (EME) to acquire substantially all of the assets of EME, including its equity interests in certain of its subsidiaries, for an aggregate purchase price of US$2,635m (including US$1,063m retained cash within EME). NRG expects to close the transaction in the first quarter of 2014.
The assets to be acquired include Edison Mission Marketing and Trading, a proprietary trading and asset management platform and EME’s generation portfolio, which consists of nearly 8,000 MW of net generation capacity located throughout the US: 1,700 MW of wind capacity, 1,600 MW of gas-fired capacity, 4,300 MW of coal-fired capacity and 400 MW of oil and waste coal-fired capacity.
With the transaction, NRG and its affiliates will become the 3rd largest US-based renewable energy generator within the US with over 2,900 MW of wind and solar capacity in operation or under construction. This transaction will substantially increase both the scale and geographic diversity of NRG’s renewable generation portfolio by almost quadrupling NRG’s existing wind generation capacity with the addition of 1,700 MW of wind capacity, including 1,150 MW of wind outside of NRG’s existing renewable footprint in Texas and the Southwest.
Interested in Global Energy Research?
Enerdata's premium online information service provides up-to-date market reports on 110+ countries. The reports include valuable market data and analysis as well as a daily newsfeed, curated by our energy analysts, on the oil, gas, coal and power markets.
This user-friendly tool gives you the essentials about the domestic markets of your concern, including market structure, organisation, actors, projects and business perspectives.