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NRG Announces Asset Sales Incl. Sale Of Interest In NRG Yield; $2.8 Bln Proceeds

NRG Energy, Inc. (NRG) and Global Infrastructure Partners have entered into a purchase agreement for GIP to purchase NRG's ownership in NRG Yield and NRG's Renewables Platform for cash proceeds of $1.375 billion. NRG and NRG Yield entered into Purchase and Sale Agreements for NRG Yield to purchase NRG's interest in the ROFO pipeline assets: 527 MW Carlsbad Energy Center and 154 MW Buckthorn Solar, for additional cash proceeds of $407 million. NRG and Cleco Corporate Holdings LLC entered into a Purchase and Sale Agreement for Cleco to purchase NRG's South Central business for a total purchase price and cash proceeds of $1.0 billion.

The announcement brings NRG's cumulative Transformation Plan asset sales to $2.9 billion in anticipated cash proceeds, including approximately $150 million of asset monetization closed in the second half of 2017. NRG expects to announce additional asset sales over the course of 2018 and revised its total asset sales cash proceeds target to approximately $3.2 billion.

by RTT Staff Writer

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