NRG · 8-K · 20261109PR000022

Acquisition / Partnership / Divestiture

NRG ENERGY, INC. · 2026-11-09 · Importance 71 · Surprise 60 · In source text

On November 9, 2026, NRG agreed to sell six natural-gas-fired generation assets totaling 4.9 GW to LS Power for $4 billion in cash, subject to working-capital and other closing adjustments. The sale retains NRG's entire PJM portfolio and CPower, which were acquired in January 2026. Closing is expected in the second quarter of 2027, subject to customary conditions and HSR, FERC and New York State Public Service Commission approvals. NRG expects to use proceeds for repurchases, debt reduction and potential contracted growth investments.

Key facts

• On November 9, 2026, NRG entered into a definitive agreement to sell six natural-gas-fired generation assets totaling 4.9 GW to LS Power for $4 billion in cash proceeds, subject to working capital and other closing adjustments. source
• For the nine months ended September 30, 2026, NRG made $7,094 million of payments for acquisitions of businesses and assets, net of cash acquired. source
• NRG expects the 4.9 GW asset sale to close in Q2 2027, subject to customary closing conditions and HSR, FERC, and NYSPSC regulatory approvals. source
• NRG's 2026 guidance includes 11 months of ownership of the portfolio acquired from LS Power. source
• NRG's 2027 guidance does not reflect the expected impacts of the announced 4.9 GW asset sale. source
• NRG's sale of six generation assets retains its entire PJM portfolio and CPower, both acquired by NRG in January 2026. source

Impact estimates