logo
Plus   Neg
Share
Email

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 RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Shortly after announcing a racial bias training for the staff, Starbucks revealed its changed policy of allowing anyone to use its spaces, rest rooms, cafes and patios even without buying anything from the stores. The new policy will be consistent all across U.S. stores. Tesla Inc.'s CEO Elon Musk has revealed new specifications and options for its Model 3 electric car, including a high-end version of the sedan that will cost around $78,000. In a series of posts on Twitter Saturday night, Musk said that the Model 3 will be available in two versions, with dual motors and all-wheel drive in July. Musk also made an announcement regarding a new service program. Billionaire entrepreneur Elon Musk on Thursday showed off his concept for the Loop, a high-speed underground public transportation system that will carry up to 16 people and travel at 150 miles per hour. At the Boring Company Information Session, Musk and project leader Steve Davis provided details of the underground mass transit tunnels that the Boring Co. plans to build beneath Los Angeles.
Follow RTT