FERC Greenlights Major NRG Energy Acquisition and LS Power Wind Deal
The Federal Energy Regulatory Commission (FERC) has approved NRG Energy's $12 billion acquisition of approximately 12.9 gigawatts of natural gas-fired power plants and a demand response company from LS Power, expanding NRG's presence in the PJM region and increasing its capacity by nearly eight times. The deal, which also involves LS Power receiving 11% of NRG's outstanding shares and $6.4 billion in cash, is seen as part of NRG's strategy to capitalize on what it views as an "unprecedented supercycle" in US power markets with limited demand growth, and will be finalized pending approval from the New York State Public Service Commission early next year.
