Seven firms interested in buying NRG Energy renewable assets

NRG has lost more than $7 billion over the last two years

Content Dam Elp Online Articles 2017 05 Oklahoma Wind Elp May 23

At least seven electric utilities or holding companies are making overtures to NRG Energy to buy up the New Jersey-based energy company's renewable energy assets.

The parties include NextEra Energy, KKR & Co., Blackstone Energy Group, Borealis Infrastructure Management, John Hancock Life Insurance and Global Infrastructure Partners, according to Bloomberg.

Last month, NRG announced plans to raise up to $4 billion through asset sales to help address its debts, cut costs and generate profits, according to the Associated Press.

NRG has lost more than $7 billion over the last two years.

Billionaire investors Paul Singer and C. John Wilder bought stakes in the company and are pressuring it to keep costs low.

Among other assets, NRG could sell off a group of power plants in Louisiana.

Bloomberg reported that some buyers were only interested in part of the portfolio, but that they might join up with other suitors to purchase more of it.

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