NRG Energy closes several energy sector purchases
The addition of Edison Mission Energy’s nearly 8,000 MW brings NRG’s total fleet to more than 53,000 MW of power generation capacity
NRG Energy Inc. (NRG) has completed its previously announced strategic acquisitions of substantially all the assets of Edison Mission Energy (EME) and the competitive retail electricity business of Dominion Resources Inc. for $2,635 million and $165 million, respectively, both excluding transaction adjustments for cash and working capital.
The addition of EME’s nearly 8,000 MW brings NRG’s total fleet to more than 53,000 MW of power generation capacity. The addition of EME’s wind capacity, combined with NRG’s existing wind and solar facilities, further diversifies the company’s renewable portfolio.
The purchase of Dominion’s competitive retail electricity business will add, after customary transitions, more than 500,000 customer accounts to NRG’s retail footprint by the end of 2014, doubling NRG’s northeast retail presence across eight states and enhancing its leading position in Texas by adding the Cirro Energy franchise.
The closing of EME and Dominion’s retail electric business comes on the heels of NRG’s acquisition of Roof Diagnostics Solar (RDS), announced March 27. NRG acquired RDS, one of largest solar sales and installation companies in America, to support the company’s strategy to empower its customers who want to control their own energy destiny through clean self-generation.