NRG Energy buys Edison Mission Energy for $2.6 billion
NRG Energy acquired all of the assets of Edison Mission Energy as part of the approval from a U.S. bankruptcy court
NRG Energy acquired all of the assets of Edison Mission Energy as part of the approval from a U.S. bankruptcy court.
EME was sold under a settlement agreement reached Feb. 18 between EME, Edison International and certain EME creditors. EME’s portfolio of renewable power and conventional power generation assets brings NRG’s total generating capacity to 53,600 MW.
NRG agreed in October 2013 to buy EME for $2.64 billion, including 1,700 MW of wind; 1,600 MW of gas-fired capacity; 4,300 MW of coal-fired capacity and 400 MW of oil and waste coal-fired capacity. NRG also bought Edison Mission Marketing and Trading.
EME filed for Chapter 11 bankruptcy in December 2012 and agreed to a reorganization plan with parent company Edison International and holders of its $3.7 billion debt.