NRG Energy to sell 4,850 MW of fossil-fueled assets for $760M

NRG Energy Inc. on Feb. 28 struck a deal to sell approximately 4,850 MW of its fossil-fueled power plants in the East and West regions to Generation Bridge, an affiliate of ArcLight Capital Partners LLC, for $760 million.

The purchase price is subject to standard adjustments and certain other indemnifications, the company announced March 1. As part of the deal, NRG also signed a tolling agreement for its 866-MW Arthur Kill natural gas-fired plant in Richmond County, N.Y., through April 2025.

The transaction is expected to close in the fourth quarter of 2021, subject to customary closing conditions and approvals, including the Federal Energy Regulatory Commission, the New York State Public Service Commission, and antitrust review under the Hart-Scott-Rodino Act.